At equilibrium, quantity sold equals the quantity bought. This implies that
Select one:
a. government regulation is necessary.
b. to sell less would require a lower price but would yield greater profit.
c. those who don't buy have been treated unfairly.
d. to sell more, producers require more in payment than consumers are willing to pay.
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those who don't buy have been treated unfairly.
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At equilibrium, quantity sold equals the quantity bought. This implies that
d). to sell more, producers require more in payment than consumers are willing to pay.
Equilibrium quantity is when there is no shortage or surplus of a product in the market. Supply and demand intersect, meaning the amount of an item that consumers want to buy is equal to the amount being supplied by its producers.
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