Incorrect. The market is in equilibrium if, at the current price, quantity demanded is equal to quantity supplied. At the current price of $40, 30 units are demanded, but only 15 units are supplied, so the market is not in equilibrium. For further review, see section “Market Equilibrium”.
Correct! At the current price of $40, 30 units are demanded but only 15 units are supplied, so the market is not in equilibrium. For further review, see section “Market Equilibrium”.