-The figure above shows a graph of the market for pizzas in a large town.What characterizes the equilibrium in this market?
A) There is excess supply at the equilibrium price of $7.
B) The government has selected the appropriate price for pizzas.
C) The quantity supplied equals the quantity demanded.
D) Supply equals demand.

Question

-The figure above shows a graph of the market for pizzas in a large town.What characterizes the equilibrium in this market?
A) There is excess supply at the equilibrium price of $7. 
B) The government has selected the appropriate price for pizzas. 
C) The quantity supplied equals the quantity demanded. 
D) Supply equals demand.

Quizplus · Accepted Answer

In market equilibrium, the quantity supplied equals the quantity demanded, meaning there is no excess supply or demand at the equilibrium price.

-The Figure Above Shows a Graph of the Market for Pizzas