-Refer to Exhibit 3-10.$20 is the
A) equilibrium price.
B) market-clearing price.
C) price at which there is neither a surplus nor a shortage.
D) all of the above

Question

-Refer to Exhibit 3-10.$20 is the
A) equilibrium price. 
B) market-clearing price. 
C) price at which there is neither a surplus nor a shortage. 
D) all of the above

Quizplus · Accepted Answer

All the options describe the equilibrium price where the quantity demanded equals the quantity supplied, meaning there is no surplus or shortage, and the market is cleared.

-Refer to Exhibit 3-10.$20 Is the