The equilibrium point is

Question

Quizplus · Accepted Answer

The equilibrium point is the market price where the quantity demanded by consumers is equal to the quantity supplied by producers. It is not easy to predict as it depends on various factors such as changes in demand and supply, government policies, etc. It is also not set by suppliers alone, as consumers also play a role in determining the market price. Therefore, the best choice is B, as the equilibrium point is indeed the prevailing market price.

The Equilibrium Point Is