SavedDragon4980 SavedDragon4980

13-02-2020
Business

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The market clearing price of a good is the price that consumers prefer.
a. the price at which there is at least some of the good available for everyone.
b. the price that producers prefer.
c. the price at which there is no surplus and no shortage.

Respuesta :

BenitoMarin BenitoMarin

16-02-2020

Answer:

The correct answer is letter "C": the price at which there is no surplus and no shortage.

Explanation:

The market-clearing price is the price in which consumers price level they are willing to pay intersects with the price suppliers are willing to accept to sell their goods. At that point, quantity demanded and quantity supplied equal. Thus, there will not be a surplus either shortage in the market of that good.

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