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What is the equilibrium

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What is the equilibrium
  • 2 answers

Deepak Kumar 7 years, 2 months ago

Consume equilibrium --It is the point at which consumer maximises his satisfaction using his given income. Producer equilibrium--it is the point at which produces maximises his profit and minimise his loss using his given resources fully and efficiently. Market equilibrium--It is the point where consumer is willing to buy a good at a certain price and certain time is equal to what producer is willing to supply at that price and that time.

Lakshita Sharma 7 years, 2 months ago

Equilibrium is the state of rest...
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