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 shirts were available.In this example,a state of _____ has been achieved.
A) symmetry
B) marketing balance
C) unitary economics
D) commerce stability
E) price equilibrium

Question

Quizplus · Accepted Answer

Price equilibrium has been achieved because the price of $6 is the point at which the quantity demanded (314) equals the quantity supplied (314), resulting in no excess demand or excess supply. It is the point where the market clears and there is no pressure for a change in price.

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