Question

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.

Answer 1

At the equilibrium price, 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.

Step-by-step explanation:

At the equilibrium price, 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.

In economics, equilibrium refers to a state where supply and demand are balanced. At this point, buyers are willing to purchase a specific quantity of the good, and sellers are willing to supply that same quantity, resulting in a market equilibrium

For example, if the equilibrium price is $10, and buyers are willing and able to buy 100 units of the good at this price, sellers will also be willing and able to sell 100 units. This balance ensures that there is neither a shortage nor a surplus in the market.