Question

In the computer market, $500 is the price at which quantity supplied equals quantity demanded. So $500 is the _____.

surplus price
equilibrium price
interest rate

Answer 1

surplus price

Step-by-step explanation:

Answer 2

Equilibrium price.

In the computer market, $500 is the price at which quantity supplied equals quantity demanded. So $500 is the equilibrium price.

Equilibrium is a condition of a system wherein all competing factors are balance. In this case quantity supplied is equal to quantity demanded.