1 inflammatory diseases (such as Perthes' disease), and all chronic forms of arthritis (e.g. rheumatoid arthritis and gout). 2  In gout, uric acid crystals cause the cartilage to degenerate at a faster pace.
Equilibrium Price. When a product exchange occurs, the agreed upon price is called an equilibrium price, or a market clearing price. Graphically, this price occurs at the intersection of demand and supply as presented in Figure 1.ith no immediate change in consumers' willingness to buy crops, there is a movement along the demand curve to a new equilibrium. Consumers will buy more but only at a lower price. How much the price must fall to induce consumers to purchase the greater supply depends upon the elasticity of demand.
Demand is from the consumer's perspective while supply is from the producer's. Supply in economics is defined as the producer's willingness and ability to supply a given good at various price points, holding all else constant. An increase in price will increase producer's revenues, thus they are willing to supply more; a decrease in price will reduce revenues, therefore producers will supply less.