At an equilibrium price,
A)both producers and consumers are satisfied with the quantity traded.
B)only consumers are satisfied with the amount they can buy.
C)only producers are satisfied with the amount traded.
D)neither consumers nor producers are satisfied with the quantity traded.
E)the willingness to sell and the willingness to buy are left out of balance.

Question

Quizplus · Accepted Answer

At an equilibrium price, the quantity of goods or services demanded by consumers is equal to the quantity of goods or services supplied by producers. This means that both producers and consumers are satisfied with the quantity traded, as the market has reached a state of balance where the amount supplied matches the amount demanded at a particular price. Any increase or decrease in price would result in either excess demand or supply, which would cause dissatisfaction among producers or consumers, respectively.

At an Equilibrium Price