Answered

Which of the following is not true of equilibrium?

A. Changes in the determinants of supply change the equilibrium price.
B. Changes in the determinants of demand change the equilibrium price.
C. Adjustments by buyers and sellers move the market toward equilibrium.
D. Price and quantity will never change.



Answer :

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Final answer:

Equilibrium in economics is the balance between demand and supply, impacting price and quantity. Changes in supply and demand determinants can modify the equilibrium. Buyers and sellers adjust to reach a new equilibrium in response to shifts in demand and supply.


Explanation:

Equilibrium in economics is a state where demand and supply are balanced, resulting in a stable price and quantity for a good or service. Changes in the determinants of supply and demand can shift the equilibrium, leading to adjustments in both price and quantity. Price and quantity in a market can change as buyers and sellers continuously try to reach a new equilibrium when faced with shifts in demand or supply.


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