3.19: Introduction to Equilibrium
- Page ID
- 47296
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What you’ll learn to do: explain and graphically illustrate market equilibrium, surplus, and shortage
In this section, you’ll learn how supply and demand interact to determine the ideal price and quantity of a good in a market. When a good is not sold at its ideal price, a shortage or a surplus may be the result.
Contributors and Attributions
CC licensed content, Original
- Outcome: Equilibrium. Authored by: Steven Greenlaw and Lumen Learning. License: CC BY: Attribution
CC licensed content, Shared previously
- Picture . Authored by: Photo by Anne Preble . Provided by: Unsplash. Located at: https://unsplash.com/search/photos/prices. License: CC0: No Rights Reserved