At an equilibrium price for gasoline,
A)everyone who is willing and able to purchase gasoline at that price can do so.
B)surpluses are inevitable.
C)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 supplied are equal, which means that everyone who is willing and able to purchase gasoline at that price can do so. There is no shortage or surplus of gasoline at this price level.

At an Equilibrium Price for Gasoline