When the market for a commodity is in equilibrium,________.
A) no economic agent will want to change his or her behavior
B) there will still be some unsold stock of the commodity
C) all buyers of the commodity will want to change their behavior
D) all sellers of the commodity will want to change their behavior

Question

Quizplus · Accepted Answer

When the market for a commodity is in equilibrium, it means that the quantity demanded equals the quantity supplied at a certain price level. In this situation, there is no incentive for any economic agent, whether a buyer or seller, to change their behavior. If a buyer decides to increase their demand, they will have to pay a higher price, and if a seller decides to increase supply, they will have to lower their price, resulting in the same equilibrium point. Therefore, option A is the correct choice.

When the Market for a Commodity Is in Equilibrium,________