At market equilibrium, a. The quantity of a good buyers are willing to buy is greater than the quantity sellers are willing to sell. b. The quantity of a good sellers are willing to sell is greater than the quantity buyers are willing to buy. c. The quantity of a good buyers are willing to buy is the same quantity that sellers are willing to sell. d. The supply of a good is equal to the demand for the good.

Question

Business

Mona

24 June, 02:46

At market equilibrium, a. The quantity of a good buyers are willing to buy is greater than the quantity sellers are willing to sell. b. The quantity of a good sellers are willing to sell is greater than the quantity buyers are willing to buy. c. The quantity of a good buyers are willing to buy is the same quantity that sellers are willing to sell. d. The supply of a good is equal to the demand for the good.

+4

Answers (1)

Know the Answer?

Dixie Kelley · Answer 1

Answer: Option D

Explanation: In simple words, equilibrium refers to a situation when market forces of demand and supply are balanced and equal. In such a situation the suppliers are supplying the goods in the quantity and price at which the potential and existing customers are willing to buy.

In a non equilibrium, there must be an excess supply or demand which will further result in change in prices or quantity supplied.

Thus, from the above we can conclude that the correct option is D.