Market equilibrium
i.can never occur because there are always people who want a good but cannot afford it.
ii.occurs at the intersection of the supply and demand curves.
iii.is the point where the price equals the quantity.

Question

Quizplus · Accepted Answer

Market equilibrium occurs at the intersection of the supply and demand curves, where the quantity supplied equals the quantity demanded at a certain price. This does not necessarily mean that everyone who wants the good can afford it, nor does it mean that price equals quantity in a numerical sense.

Market Equilibrium I.can Never Occur Because There Are Always People Who Want