At the equilibrium price,which buyers will purchase the good

Question

Quizplus · Accepted Answer

At the equilibrium price, those buyers who value the good at more than the price will purchase the good because they are willing to pay the market price or more for it. Buyers who value the good less than the price will not purchase it since the price is higher than what they are willing to pay. Those who have the money to buy the good or consider the good a necessity may or may not purchase it depending on whether they value the good at the equilibrium price or not.

At the Equilibrium Price,which Buyers Will Purchase the Good