What is the price at which the quantity of goods demanded and the quantity of goods supplied are equal?
A) The going rate
B) The margin rate
C) The market price
D) The optimum price
E) The cost price

Question

Quizplus · Accepted Answer

The price at which quantity demanded and quantity supplied are equal is known as the market price. This is the point where buyers and sellers agree on a price for the goods. The other options listed are not appropriate because the going rate and margin rate are not directly linked to supply and demand, the optimum price can be subjective, and the cost price only represents the price of production, not the market equilibrium price.

What Is the Price at Which the Quantity of Goods