When equilibrium is present, if market conditions do not change,
A) the current price will tend to rise in the future, and the current quantity will tend to fall.
B) the current price will tend to fall in the future, and the current quantity will tend to rise.
C) the current price and quantity will tend to persist in the future.
D) the current price will tend to persist in the future, but the current quantity will tend to rise.

Question

Quizplus · Accepted Answer

When equilibrium is present, it means that the market is in a state of balance between supply and demand. In this situation, there is no pressure for the price or quantity to change, so the current price and quantity will tend to persist in the future if market conditions do not change. Option A and B suggest that there will be a tendency for one of the variables to change in the future, which is not necessarily true in equilibrium. Option D suggests that only the quantity will tend to rise, which is also incorrect as both price and quantity are expected to persist in equilibrium. Therefore, option C is the best choice.

When Equilibrium Is Present, If Market Conditions Do Not Change