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 highest price.
E) the lowest 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. This is also known as the equilibrium price, as it represents the point at which buyers and sellers are in balance with each other. The market price can be influenced by a variety of factors, including changes in demand and supply, as well as external economic conditions.

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