What is the most important characteristic of the equilibrium price?

Question

Quizplus · Accepted Answer

The most important characteristic of the equilibrium price is that it clears the market, leaving neither a surplus nor a shortage. This means that the quantity demanded equals the quantity supplied, resulting in the most efficient allocation of resources and optimal price level. The other options (A, C, D) are not accurate characteristics of the equilibrium price.

What Is the Most Important Characteristic of the Equilibrium Price