At the equilibrium price,the quantity of the good that buyers are willing and able to buy
A)is greater than the quantity that sellers are willing and able to sell.
B)exactly equals the quantity that sellers are willing and able to sell.
C)is less than the quantity that sellers are willing and able to sell.
D)Either a)or c)could be correct.

Question

Quizplus · Accepted Answer

At the equilibrium price, the quantity demanded and the quantity supplied are equal, meaning that the quantity of the good that buyers are willing and able to buy exactly equals the quantity that sellers are willing and able to sell. Therefore, choice B is correct. Choices A and C are incorrect because they suggest either an excess demand or an excess supply situation, which are not consistent with the definition of equilibrium. Choice D is also incorrect because only one of the options can be correct, not both.

At the Equilibrium Price,the Quantity of the Good That Buyers