At the equilibrium price of a good,the good will be sold by those sellers
A)whose cost is more than price.
B)whose cost is less than price.
C)that can produce the good.
D)enter the market first.

Question

Quizplus · Accepted Answer

At the equilibrium price of a good, the quantity demanded and the quantity supplied are equal. This means that the market has cleared, and all willing and able sellers who can produce the good at a cost lower than or equal to the price are selling it. Therefore, those sellers whose cost is less than the price will be able to sell the good at the equilibrium price.

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