Explain marketequilibrium with the help of demand and supply curves
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Explanation:
Market equilibrium refers to the stage where the quantity demanded for a product is equal to the quantity supplied for the product.
The price when the quantity demanded is equal to the quantity supplied for the product is known as equilibrium price.
Equilibrium price is also termed as market clearing price, which is referred to a price when there is neither an unsold stock nor an unsupplied demand.
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