Answer : The features of market equilibrium price are followings :
(i) At market equilibrium price level the quantity demanded equal to the quantity supplied occur.
(ii) At market equilibrium price level the market does not face excess demand or excess supply situation.
(iii) If the market price level is not an equilibrium price level then there occur an incentive in the market to reach at equilibrium price level. As a result, automatically the market reach at equilibrium price level by the interaction between market demand and market supply.
These are the desirable features of market equilibrium price level.
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