Question

In microeconomics, what occurs when equilibrium is reached?

Prices decline.
Prices increase.
Prices are set.
Prices fluctuate.

Answer 1

When equilibrium is reached in microeconomics, prices are set at a level where the quantity of goods demanded by consumers equals the quantity of goods supplied by producers. Therefore, the most appropriate answer is:

**Prices are set.**

At this equilibrium point, there is no tendency for the price to change, as the market is balanced.