Equilibrium price implies that everyone who would like to purchase a product is able to.

Name: Equilibrium price implies that everyone who would like to purchase a product is able to.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Equilibrium price is the price at which the quantity demanded of a product is equal to the quantity supplied. It does not necessarily mean that everyone who wants to purchase the product is able to do so, as there may still be some people who are priced out of the market or unable to access the product for other reasons.

Equilibrium Price Implies That Everyone Who Would Like to Purchase