At the equilibrium price of a good,the good will be purchased by those buyers who
A)value the good more than price.
B)value the good less than price.
C)have the money to buy the good.
D)consider the good a necessity.

Question

Quizplus · Accepted Answer

At equilibrium, the price of the good has settled to a level where the quantity demanded equals the quantity supplied. This means that buyers who value the good more than the price are willing to purchase it at that price, and those who value it less than the price will not buy it. Therefore, option A is correct. The other options (B, C, and D) do not necessarily hold true at the equilibrium price.

At the Equilibrium Price of a Good,the Good Will Be