​At the Equilibrium Price

question 39

Multiple Choice

​At the equilibrium price

• A)​only sellers who value the product more than the equilibrium price would be willing to sell
• B)only buyers who value the product less than the equilibrium price would be willing to buy
• C)only buyers who value the product more than the equilibrium price would be willing to buy
• D)​None of the parties would be willing to trade

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Definitions:

Constant In Total

A term that refers to a cost or expense that remains unchanged in total, regardless of changes in the related level of activity or volume.

Break-Even Point

The level of activity at which total revenue equals total costs.

Total Sales

Total Sales represents the aggregate revenue a company generates from selling its goods or services within a specific period before any expenses are deducted.

Variable Costs

Costs that vary directly with the level of production or volume of output.