Asked by
Austin Hickner
on Nov 17, 2024
Verified
When a free market for a good reaches equilibrium, anyone who is willing and able to sell at the market price can sell the good.
Market Price
The contemporary price point at which goods or services can be transacted in a trading space.
- Acquire knowledge about the equilibrium price concept and the way in which market dynamics work together to attain it.
Verified Answer
MV
Learning Objectives
- Acquire knowledge about the equilibrium price concept and the way in which market dynamics work together to attain it.