In a market, the equilibrium condition is given by thefollowing:

Question

Quizplus · Accepted Answer

The equilibrium condition in a market is where the quantity demanded by buyers equals the quantity supplied by sellers, which is represented by the equation Qd = Qs. This is the point where the market is in a state of balance and there is neither excess demand nor excess supply. Therefore, option A is the correct answer. Option B is incorrect because it represents the total value of goods exchanged in the market, not the equilibrium condition. Option C is also incorrect because the ratio of quantity demanded to quantity supplied may not necessarily be equal to 1 in a market. Option D is incorrect because it represents the total revenue earned by sellers, not the equilibrium condition.

In a Market, the Equilibrium Condition Is Given by Thefollowing