Equilibrium of supply and demand

Equilibrium of supply and demand - demanded. 2.c.1. In the...

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2.c. Equilibrium of Supply and Demand The point where the supply and demand curves intersect is called the market equilibrium . The price at that point is called the equilibrium price, and the quantity is called the equilibrium quantity. At this point, demand and supply are equal, meaning the amount demanded is the amount supplied, as well as the amount supplied is the amount
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Unformatted text preview: demanded. 2.c.1. In the graph shown above, the supply and demand curve come to a point that is the market equilibrium. At this point, the quantity supplied is equal to the quantity demanded. In such a market, both the buyers and seller are happy. Buyers are willing to pay $5 for 10 doughnuts, and sellers are willing to sell 10 doughnuts for $5....
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