Which of the following are true when a market is in equilibr

Which of the following are true when a market is in equilibrium? Select all that apply. Select all that apply: quantity demanded equals quantity supplied excess supply is zero there is no tendency for price to change any change in equilibrium price will result in proportional changes in equilibrium quantity

Solution

Ans is All

Equilibrium is a situtation of absence of forces which leads to any change. Thus there is no tendecy for price to change. Quantity demanded=quantity supplied which means there is nor excess demand nor excess supply.

Any change in price will lead to decrease in quantity sold in the market.