What is an equilibrium in a market?1An equilibrium is defined as a situation where the plans of all consumers and firms in the market match and the market clears.2In equilibrium, the aggregate quantity that all firms wish to sell equals the quantity that all the consumers in the market wish to buy.3Graphically, an equilibrium is a point where the market supply curve intersects the market demand curve.4All the aboveAnswer & explanation+Correct answer: option 4A detailed explanation for this question is coming soon.