An equilibrium is:

Question

An equilibrium is:

Quizplus · Accepted Answer

An equilibrium is a point where the supply and demand curves intersect and there is no tendency for prices to change. It is a state of balance where buyers and sellers have agreed on a price and quantity for a particular good or service. Therefore, B is the best choice. A is partially correct but does not fully describe an equilibrium. C is Latin for "all else equal" and is a concept used in economics but is unrelated to an equilibrium. D is incorrect as a movement along the demand curve implies a change in price, which is not the case at an equilibrium.

An Equilibrium Is