![]() Table 4.1 "Market Equilibrium: An Example" provides an example of market equilibrium. Because the demand curve has a negative slope and the supply curve has a positive slope, supply and demand will cross once, and both equilibrium price and equilibrium quantity The quantity supplied and demanded at the equilibrium price. There are no disappointed buyers or sellers. At the equilibrium price A price such that the quantity supplied equals the quantity demanded., suppliers of the good can sell as much as they wish, and demanders of the good can buy as much of the good as they wish. We speak of equilibrium because there is a balancing of the forces of supply and demand in the market. In a competitive market, equilibrium price and quantity are determined by the intersection of the supply and demand curves. In a competitive market, buyers and sellers take the price as given they think their actions have no effect on the price in the market.
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