At an equilibrium price for gasoline,
A)everyone with the desire and the income to buy gasoline at that price can do so.
B)surpluses are inevitable.
C)inherent market forces will eventually change the quantities demanded and supplied.
D)suppliers must be using the most efficient oil-drilling equipment available.

Question

Quizplus · Accepted Answer

At an equilibrium price, the quantity demanded and the quantity supplied are equal. Therefore, everyone with the desire and the income to buy gasoline at that price can do so. There is no shortage or surplus of gasoline at the equilibrium price.

At an Equilibrium Price for Gasoline