A product market is in equilibriumA) whenever there is no surplus of the product.B) whenever there is no shortage of the product.C) when consumers want to buy more of the product than producers offer for sale.D) where the demand and supply curves intersect.

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Chris Mciff · Accepted Answer

Final Answer : D, Explanation :  An equilibrium in a product market occurs when the demand and supply curves intersect, meaning that the quantity demanded by consumers is equal to the quantity supplied by producers at a certain price level. This is where the market clears and there is no shortage or surplus of the product.

A product market is in equilibrium

A) whenever there is no surplus of the product.
B) whenever there is no shortage of the product.
C) when consumers want to buy more of the product than producers offer for sale.
D) where the demand and supply curves intersect.

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