At a price of $6 each,314 people want to buy sun visors designed especially for volunteers at the Peachtree Road Race,and only 314 such visors were available.In this example,a state of which of the following has been achieved?

Question

Quizplus · Accepted Answer

Price equilibrium has been achieved when the quantity demanded by buyers equals the quantity supplied by sellers at a specific price. In this case, the price of $6 has attracted exactly 314 buyers to purchase all the 314 available sun visors. Therefore, the market has achieved a state of price equilibrium. The other options such as symmetry, marketing balance, and commerce stability do not apply to this scenario.

At a Price of $6 Each,314 People Want to Buy