The equilibrium quantity is the quantity at which:
A) consumers' willingness to pay equals producers' willingness to sell.
B) buyers have no unsatisfied wants.
C) gains from trade are minimized.
D) suppliers' production is maximized.

Question

Quizplus · Accepted Answer

The equilibrium quantity is the quantity at which consumers are willing to pay the same price as what producers are willing to sell. At this point, there is no surplus or shortage of goods in the market, and both parties benefit from the transaction.

The Equilibrium Quantity Is the Quantity at Which