Which of following is NOT true of the equilibrium price?
A)Buyers who are willing to pay the equilibrium price can acquire the good.
B)It measures the value of the last unit sold to consumers.
C)It is fair in the sense that everyone can afford basic goods and services.
D)Sellers who are willing to accept the equilibrium price can sell what they produce.

Question

Quizplus · Accepted Answer

The equilibrium price is determined by supply and demand, with no regard for fairness.

Which of Following Is NOT True of the Equilibrium Price