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.
Price is derived by the interaction of supply and demand. The resultant market price is dependant upon both of these fundamental components of a market. An exchange of goods or services will occur whenever buyers and sellers can agree on a price. When an exchange occurs, the agreed upon price is called the equilibrium price, or a market clearing price . In figure 3, both buyers and sellers are willing to exchange the quantity Q at the price P. At this point supply and demand are in balance or equilibrium.