Question

Define Equilibrium price.

Answer 1

Hey user here is your answer :-

The equilibrium price is the market price where the quantity of goods supplied is equal to the quantity of demanded .
This is the point at which the demand and supply curves in the market intersect .

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Answer 2

EQUILIBRIUM PRICE -

The Price at which the demand and supply equate to each other is called "Equilibrium" price.

If price falls then the demand rises. If price rises then the demand falls. On the other hand, if the price rises then the supply also rises by suppliers. If the price falls then the supply falls by suppliers or producers. When supply and demand of the market are equal then it is said to be "Equilibrium" . when the demand of the goods is equal to the supply of goods it is known as Equilibrium.