What are equilibrium price and equilibrium quality? a. Equilibrium price is the informal market price for a good/service between buyers/sellers. Equilibrium quality is the limited volume of the good/service sold at the equilibrium price in the market. b. Equilibrium price is the informal market price for a good/service between buyers/sellers. Equilibrium quality is the limited volume of the good/service sold at the equilibrium price in the market. Equilibrium price is the approved market price for a good/service between buyers/sellers. Equilibrium quality is the total volume of the good/service sold at the equilibrium price in the market. c. Equilibrium price is the official market price for a good/service between buyers/sellers. Equilibrium quality is the partial amount of the good/service sold at the equilibrium price in the market. d. None of the above