Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the search-in-place domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /usr/www/users/mywaecf/KEYPOINT/wp-includes/functions.php on line 6121

Warning: session_start(): Cannot start session when headers already sent in /usr/www/users/mywaecf/KEYPOINT/wp-content/plugins/secure-copy-content-protection/public/class-secure-copy-content-protection-public.php on line 1000

Warning: Cannot modify header information - headers already sent by (output started at /usr/www/users/mywaecf/KEYPOINT/wp-includes/functions.php:6121) in /usr/www/users/mywaecf/KEYPOINT/wp-content/plugins/docket-cache/includes/src/Plugin.php on line 1186

Warning: Cannot modify header information - headers already sent by (output started at /usr/www/users/mywaecf/KEYPOINT/wp-includes/functions.php:6121) in /usr/www/users/mywaecf/KEYPOINT/wp-content/plugins/docket-cache/includes/src/Tweaks.php on line 453
EQUILIBRIUM PRICE — Economics Keypoint

EQUILIBRIUM PRICE

In a perfect market, the price of any commodity is determined by the interaction of the forces of demand and supply. By equilibrium price, we mean the unique price level at which the quantity supplied and the quantity demanded are equal. For illustrative purpose, see the schedule below:

Demand and Supply schedule

The graph above illustrates the interaction of demand and supply, and also yield the same conclusion where the equilibrium price (N10) is given by the intersection of the two curves.

 

Leave a Comment

not allowed!