The equilibrium price is the price at which:

The equilibrium price is the price at which:


1) the number of products that businesses are willing to supply equals the number of products that consumers are willing to buy at a specific point in time.

2) the total cost of manufacturing and selling a product equals the total revenue gained from selling the product.

3) the maximum number of products would be sold.

4) a company would have to sell its products in order to make a revenue that is equal to the opportunity cost incurred by it due to its investment in the products.

5) the products are affordable for all sections of consumers and are thereby distributed equally across the market.


Answer: the number of products that businesses are willing to supply equals the number of products that consumers are willing to buy at a specific point in time.


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