What is the definition of a market equilibrium?
The price at which elasticity of demand is unit elastic.
The price and quantity at which all consumer surplus is extracted from buyers.
The price at which quantity supplied equals quantity demanded.
All of the above

Market equilibrium is a situation in a market when the curve for quantity supplied intersects or meet the curve for quantity demanded. At the point of intersection, we have equilibrium price.

In the attached file, the equilibrium price is P1 and quantity demanded is Q1, meaning at price P1, Q1 is demand

If the price is above equilibrium P1, it means quantity supplied will be greater than quantity demanded and if the price below equilibrium price P1, it means the quantity demanded is greater than the quantity supplied

What is the definition of a market equilibrium? The price at which elasticity of demand is unit elastic. The price and quantity at which all consumer surplus is extracted from buyers. The price at which quantity supplied equals quantity demanded. All of the above

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What is the definition of a market equilibrium?
The price at which elasticity of demand is unit elastic.
The price and quantity at which all consumer surplus is extracted from buyers.
The price at which quantity supplied equals quantity demanded.
All of the above