A market is in equilibrium:

Question

Quizplus · Accepted Answer

Market equilibrium is achieved when the quantity of a good or service that consumers are willing and able to buy is equal to the quantity that producers are willing and able to sell. This occurs at the point where the demand curve intersects with the supply curve, known as the equilibrium price and quantity. At this point, there is no shortage or surplus of the product and the market is said to be in balance. Therefore, the correct answer is C.

A Market Is in Equilibrium