At the equilibrium price, _____.

Question

Quizplus · Accepted Answer

At the equilibrium price, the quantity demanded by buyers matches the quantity supplied by sellers, leading to a situation where both buyers and sellers mutually benefit from trade. Buyers are able to purchase the goods they value at prices they are willing to pay, and sellers are able to sell their goods at prices that cover their costs of production, leading to mutual benefits without the incentive for either party to leave the market or the occurrence of supernormal profits for sellers.

At the Equilibrium Price, _____