The equilibrium price is sometimes called the:
A) market-clearing price.
B) optimum price.
C) maximum price.
D) quantity-clearing price.

Question

Quizplus · Accepted Answer

The equilibrium price is the price at which the quantity of goods or services supplied equals the quantity demanded. At this price, there is no shortage or surplus in the market, and all goods are sold. Thus, it is called the market-clearing price. The other options, such as optimum price, maximum price, or quantity-clearing price, are not commonly used terms to refer to the equilibrium price.

The Equilibrium Price Is Sometimes Called The