Respuesta :
A price at which the demanded quantity is equal to the produced quantity of the product is called the equilibrium price.
What is the equilibrium price?
Equilibrium is the point at which the quantity demanded is equal to the quantity supplied. The price at which equilibrium occurs is known as equilibrium price.
When shown a demand-supply graph, the equilibrium point is where the demand curve would cross the supply curve. At the area above the equilibrium point, there would be a surplus. This is because the quantity demanded would be less than the quantity supplied. At the area below the equilibrium point, there would be a scarcity. This is because the quantity demanded would be greater than the quantity supplied.
For example:
Price Quantity demanded Quantity supplied
12 100 200
10 150 150
8 200 100
The equilibrium price is 10.
To learn more about equilibrium, please check: https://brainly.com/question/26075805
#SPJ1
