The equilibrium price established by supply and demand could be called a "just right" price because:
A)any price above it would be "too high" and cause a shortage.
B)any price below it would be "too low" and cause a surplus.
C)it is the only price where the quantity demanded and the quantity supplied are equal.
D)of all of the above.

Question

Quizplus · Accepted Answer

The equilibrium price is where the quantity demanded equals the quantity supplied, ensuring no surplus or shortage.

The Equilibrium Price Established by Supply and Demand Could Be