A market price a is a price dictated by a government agency

A market price:

a. is a price dictated by a government agency before trading can begin.

b. is a price at which buyers and sellers agree to exchange money for a good or service.

c. is any price at which sellers desire to sell their good or service.

d. is any price at which buyers desire to purchase a good or service.

Solution

Option (b).

A market price is that price at which the market is in equilibrium, i.e. price at which consumers and producers exchanges certain unit of goods and service.