The equilibrium price is best defined as the price at which:

Question

Quizplus · Accepted Answer

The equilibrium price is the price at which the quantity demanded of a good or service is exactly equal to the quantity supplied, resulting in no excess supply or excess demand. This is represented by the point where the supply and demand curves intersect on a graph, and it indicates that the market is in balance. Therefore, the correct answer is D, which states that the equilibrium price is the point where quantity demanded is equal to quantity supplied.

The Equilibrium Price Is Best Defined as the Price at Which