In a market, at the equilibrium price,
A) buyers are paying the minimum price they are willing to pay for any amount of output and sellers are charging the maximum price they are willing to charge for any amount of production.
B) neither buyers nor sellers can do business at a better price.
C) buyers are willing to pay a higher price, but sellers do not ask for a higher price.
D) None of the above is true.
Correct Answer:
Verified
Q131: Q132: The interaction of supply and demand explains Q133: For "an increase in the quantity demanded" Q134: The price of a bag of corn Q137: If the money price of wheat increases Q138: If income decreases or the price of Q139: Which of the following is true? Q141: Changes in which of the following shifts Q161: Each point on a supply curve represents Q398: ![]()
A)the
A)The demand
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