Question

the price at which quantity demanded equals quantity supplied is known as what
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Answer 1

Answer:

The equilibrium is the only price where quantity demanded is equal to quantity supplied. At a price above equilibrium like $1.80, quantity supplied exceeds the quantity demanded, so there is excess supply.

Answer 2

Answer:

A market-clearing price is the price of a good or service at which quantity supplied is equal to quantity demanded, also called the equilibrium price.

Explanation:

Quantity demanded is the quantity of a commodity that people are willing to buy at a particular price at a particular point of time. ... When all the prices, along with quantity demanded, are drawn on a graph, the demand curve is formed.