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3.19: Introduction to Equilibrium

Last updated

Dec 6, 2020
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- 3.18: Learn By Doing- Supply of Food Trucks
- 3.20: Equilibrium, Surplus, and Shortage

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

Fruits and vegetables for sale at a market.

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

Outcome: Equilibrium. Authored by: Steven Greenlaw and Lumen Learning. License: CC BY: Attribution

Picture . Authored by: Photo by Anne Preble . Provided by: Unsplash. Located at: https://unsplash.com/search/photos/prices. License: CC0: No Rights Reserved

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

Contributors and Attributions

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