When a market is in equilibrium,

Name: When a market is in equilibrium,
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In equilibrium, the market has reached a stable point where the quantity demanded and the quantity supplied are equal, and the market price has settled at a level where both consumers and producers are satisfied with the outcome. At this point, there is no incentive for either consumers or producers to change their current behavior as they are already getting what they want. Hence, option C is the best choice.

When a Market Is in Equilibrium