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  2. Economic equilibrium - Wikipedia

    en.wikipedia.org/wiki/Economic_equilibrium

    The equilibrium price in the market is $5.00 where demand and supply are equal at 12,000 units; If the current market price was $3.00 – there would be excess demand for 8,000 units, creating a shortage. If the current market price was $8.00 – there would be excess supply of 12,000 units.

  3. Supply and demand - Wikipedia

    en.wikipedia.org/wiki/Supply_and_demand

    If the demand starts at D 2, and decreases to D 1, the equilibrium price will decrease, and the equilibrium quantity will also decrease. The quantity supplied at each price is the same as before the demand shift, reflecting the fact that the supply curve has not shifted; but the equilibrium quantity and price are different as a result of the ...

  4. Market clearing - Wikipedia

    en.wikipedia.org/wiki/Market_clearing

    A market-clearing price is the price of a good or service at which the quantity supplied equals the quantity demanded, also called the equilibrium price. [2] The theory claims that markets tend to move toward this price. Supply is fixed for a one-time sale of goods, so the market-clearing price is simply the maximum price at which all items can ...

  5. Effect of taxes and subsidies on price - Wikipedia

    en.wikipedia.org/wiki/Effect_of_taxes_and...

    The original equilibrium price is $3.00 and the equilibrium quantity is 100. The government then levies a tax of $0.50 on the sellers. This leads to a new supply curve which is shifted upward by $0.50 compared to the original supply curve. The new equilibrium price will sit between $3.00 and $3.50 and the equilibrium quantity will decrease.

  6. Price floor - Wikipedia

    en.wikipedia.org/wiki/Price_floor

    A price floor could be set below the free-market equilibrium price. In the first graph at right, the dashed green line represents a price floor set below the free-market price. In this case, the floor has no practical effect. The government has mandated a minimum price, but the market already bears and is using a higher price.

  7. Walras's law - Wikipedia

    en.wikipedia.org/wiki/Walras's_law

    A market for a particular commodity is in equilibrium if, at the current prices of all commodities, the quantity of the commodity demanded by potential buyers equals the quantity supplied by potential sellers. For example, suppose the current market price of cherries is $1 per pound.

  8. Market equilibrium computation - Wikipedia

    en.wikipedia.org/wiki/Market_equilibrium_computation

    Market equilibrium computation (also called competitive equilibrium computation or clearing-prices computation) is a computational problem in the intersection of economics and computer science. The input to this problem is a market , consisting of a set of resources and a set of agents .

  9. Long run and short run - Wikipedia

    en.wikipedia.org/wiki/Long_run_and_short_run

    When the supply and the "effective demand" are in sync, the "market" price would end up corresponding to the "natural" price. The profit rate earned in that sector is the same as the profit rate earned across the whole economy, and it is stated that the conditions of equilibrium will prevail.