A. Everything is sold
B. Buyers spend all their money
C. Excess demand is zero
D. None of the above
Correct Answer:
Option C – Excess demand is zero
Explanation
Equilibrium price is the price where the demand for a product or a service is equal to the supply of the product or service. At equilibrium, both consumers and producers are satisfied, thereby keeping the price of the product or the service stable.
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