Practicing Success
Practicing Success
CUET Preparation Today
| What is an equilibrium in a market? |
An equilibrium is defined as a situation where the plans of all consumers and firms in the market match and the market clears. In equilibrium, the aggregate quantity that all firms wish to sell equals the quantity that all the consumers in the market wish to buy. Graphically, an equilibrium is a
point where the market supply
curve intersects the market
demand curve. All the above |
| All the above |
