-The market clearing price of a good is
A) the price at which there is at least some of the good available for everyone.
B) the price at which there is no surplus and no shortage.
C) the price that consumers prefer.
D) the price that producers prefer.

Question

-The market clearing price of a good is
A) the price at which there is at least some of the good available for everyone. 
B) the price at which there is no surplus and no shortage. 
C) the price that consumers prefer. 
D) the price that producers prefer.

Quizplus · Accepted Answer

The market clearing price, also known as the equilibrium price, is the price at which the quantity of goods supplied is equal to the quantity of goods demanded, meaning there is no surplus or shortage in the market.

-The Market Clearing Price of a Good Is