The price at which the quantity of goods demanded and the quantity of goods supplied are equal is referred to as ________.
A) the going rate
B) the point-of-no-return price
C) the market price
D) the better price

Question

Quizplus · Accepted Answer

The price at which the quantity of goods demanded and the quantity of goods supplied are equal is referred to as the market price. It is determined by the forces of supply and demand in the market, and it represents the most efficient allocation of scarce resources. The other options (A, B, and D) are not accurate terms to describe this concept.

The Price at Which the Quantity of Goods Demanded and the Quantity