Which of the following is the best way to describe equilibrium in a market? At equilibrium, the

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Equilibrium in a market occurs when the quantity supplied by producers is exactly equal to the quantity demanded by consumers. This means that there is no excess supply or demand, and as a result, the market price will remain stable. Option A is incorrect because equilibrium price need not be the lowest possible. Option C is incorrect because supply and demand curves can shift in response to changes in market conditions. Option D is incorrect because affordability is not a defining characteristic of equilibrium.

Which of the Following Is the Best Way to Describe