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At equilibrium, which of the following are true?
  • a)
    buyers' willingness to pay is equal to sellers' willingness to accept
  • b)
    quantity demanded is equal to the quantity supplied
  • c)
    there is no shortage or surplus
  • d)
    all of these
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
At equilibrium, which of the following are true?a)buyers' willingn...
At equilibrium, buyers' willingness to pay is equal to sellers' willingness to accept. The quantity demanded is equal to the quantity supplied. Hence there is no excess demand or supply.
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At equilibrium, which of the following are true?a)buyers' willingness to pay is equal to sellers' willingness to acceptb)quantity demanded is equal to the quantity suppliedc)there is no shortage or surplusd)all of theseCorrect answer is option 'D'. Can you explain this answer?
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