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6.14: Introduction to Equilibrium

  • Page ID
  • What you’ll learn to do: explain and graphically illustrate market equilibrium, surplus, and shortage

    Supermarket produce

    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