The point at which the supplier's price matches what buyers are willing to pay for some quantity of a good or service is called

Question

Quizplus · Accepted Answer

Market price equilibrium point is the intersection point of the demand and supply curve and it represents the price at which the quantity supplied by the supplier matches the quantity demanded by the buyers. At this point, there is no excess supply or demand, and both the supplier and the buyers are satisfied with the market outcome. Therefore, B is the correct option. The other options are not applicable as they do not represent the point of intersection between the supply and demand curve.

The Point at Which the Supplier's Price Matches What Buyers