The most important characteristic of the equilibrium price is that it maximizes the quantity demanded of a good and guarantees that buyers maximize their utility.
a) The most important characteristic of the equilibrium price is that it maximizes the quantity demanded of a good.
b) The most important characteristic of the equilibrium price is that it is set by the government.
c) The most important characteristic of the equilibrium price is that it is always lower than the market price.
d) The most important characteristic of the equilibrium price is that it minimizes the quantity demanded of a good.