ipl-logo

Explain Why The Following Statement Is False

265 Words2 Pages
Explain why the following statement is false: “In the goods market, no seller would be willing to sell for less than the equilibrium price.”
Equilibrium price is the proper balance between quantity of goods and quantity supply. By having this balance, both suppliers and sellers, get the best benefits possible. However, if a seller is willing to sell below the equilibrium price, the quantity demand and supply demand might change. Selling below the equilibrium price might increase the product demand. More consumers will be able to afford the product but the supplier will need to be able to satisfy the new demand. Therefore, if a seller is able to satisfy the new level of product demand by avoiding shortages, and the cost of production does not

More about Explain Why The Following Statement Is False

Open Document