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.
Market clearing. Equilibrium price is also called market clearing price because at this price the exact quantity that producers take to market will be bought by consumers, and there will be nothing âleft overâ. This is efficient because there is neither an excess of supply and wasted output, nor a shortage â the market clears efficiently.