Question

A new CD is being marketed to teens at a price of $20. The suppliers are selling all of the CDs they have, and the teens are getting all of the CDs they are demanding, so $20 could be defined as the CD's. a. average price b. equilibrium price c. maximum price d. minimum price

Answer 1

Out of the choices given, $20 can be defined as the CD's equilibrium price. The correct answer is B, equilibrium price. 

Answer 2

I believe the answer is B. equilibrium price