The equilibrium price is the same as the market price at which consumers are willing to buy the same quantity supplied by suppliers.

Question

Quizplus · Accepted Answer

The equilibrium price is determined by the intersection of the demand and supply curves, at which point the quantity demanded equals the quantity supplied. This price reflects the willingness of consumers to buy the same quantity supplied by suppliers, so it is the same as the market price. Therefore, the statement is true.

The Equilibrium Price Is the Same as the Market Price