A market for a product reaches equilibrium when:

Question

Quizplus · Accepted Answer

Equilibrium is reached when buyers intend to buy the same quantity that sellers intend to sell. This means that the market is balanced and there are no surpluses or shortages. Option A is incorrect as it states "actual quantity" instead of "intended quantity". Option B and D are incorrect as they suggest that the price must continue to rise or fall after a surplus or shortage, which is not necessarily true.

A Market for a Product Reaches Equilibrium When