List of people from Virginia. This is a list of notable people who were born in the U.S. state of Virginia, were raised or lived in Virginia, or for whom Virginia is a significant part of their identity. Those not born in Virginia are marked with Â§.
Definition. The equilibrium price is the market price where the quantity of goods supplied is equal to the quantity of goods demanded. This is the point at which the demand and supply curves in the market intersect. To determine the equilibrium price, you have to figure out at what price the demand and supply curves intersect.
In this market, the equilibrium price is $6 per unit, and equilibrium quantity is 20 units. At this price level, market is in equilibrium. Quantity supplied is equal to quantity demanded ( Qs = Qd). Market is clear.