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What is meant by equilibrium price

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What is meant by equilibrium price

Posted by Mohammed Saeed 4 years, 4 months ago

CBSE > Class 10 > Other Subjects

1 answers

Yogita Ingle 4 years, 4 months ago

Equilibrium means a state of no change. Evidently, at the equilibrium price, both buyers and sellers are in a state of no change. Technically, at this price, the quantity demanded by the buyers is equal to the quantity supplied by the sellers. Both market forces of demand and supply operate in harmony at the equilibrium price.

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