Another term for equilibrium price is
A)dynamic price.
B)market-clearing price.
C)quantity-defining price.
D)balance price.

Question

Quizplus · Accepted Answer

Equilibrium price is also referred to as the market-clearing price because it is the price at which the quantity demanded by consumers equals the quantity supplied by producers, resulting in an equilibrium where there is no excess supply or demand. The other options (dynamic price, quantity-defining price, and balance price) are not commonly used to refer to the equilibrium price.

Another Term for Equilibrium Price Is