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ME
Question Practice

What is the equilibrium price in a perfectly competitive market?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Economics
Introductory Microeconomics
Market Equilibrium
Question Bank

What is the equilibrium price ...

Single Answer MCQ
Q-00089572

What is the equilibrium price in a perfectly competitive market?

1

The highest price consumers are willing to pay

2

The price where demand exceeds supply

3

The price where quantity supplied equals quantity demanded

4

The average price over a period

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Q1.

What is market equilibrium?

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Q2.

When does excess demand occur in a market?

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Q3.

What occurs at a price above the equilibrium price?

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Q4.

In a market with fixed number of firms, what happens to equilibrium supply when demand increases?

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