Another term for equilibrium price is?
ECONOMICS
WAEC 2017
Another term for equilibrium price is?
- A. price floor
- B. demand price
- C. market clearing price
- D. satisfactory price
Correct Answer: C. market clearing price
Explanation
Market-clearing price is another term used interchangeably with equilibrium price. Equilibrium price is a common economics term that refers to the exactprice at which market supply equals market demand.
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