The equilibrium price is best defined as the price at which:
a. demand is smaller than supply.
b. suppliers want to supply more goods.
c. demanders want to buy more goods.
d. quantity demanded is equal to quantity supplied.
e. the quantity demanded increases.
Question 2
All of the following apply to the description of a market in equilibrium except:
a. quantity supplied equals quantity demanded.
b. the intersection of the supply and demand curves.
c. no excess supply exists.
d. no excess demand exists.
e. the price of the good is falling.
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