The point at which the supplier's price matches what buyers are willing to pay for some quantity of a good or service is called the ____.

Question

Quizplus · Accepted Answer

The figure represents the market equilibrium point, which is the point at which the supplier's price matches what buyers are willing to pay for some quantity of a good or service. This is also known as the market price equilibrium point.

The Point at Which the Supplier's Price Matches What Buyers