In microeconomics, the equilibrium price is defined as the price at which

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    Firms are selling at a profit and there is no surplus of goods unsold.
     Firms are able to sell most of the quantity they produce at that price.
     Production costs are at a minimum.
     The market clearing price where quantity demanded is equal to the quantity supplied and there are no shortages or surpluses.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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The market clearing price where quantity demanded is equal to the quantity supplied and there are no shortages or surpluses.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)



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