EQUILIBRIUM point: the point of intersection of two curve (pe, ge o At pe, consumers want to buy at this price are able to do so a At ge suppliers are able to sell all and are not left with any unsold stocks EQUILIBRIUM CONDITION a The equality between demand and supply can be written as gd=gs◼ EQUILIBRIUM point: the point of intersection of two curve ❑ ( pe , qe ) ❑ At pe, consumers want to buy at this price are able to do so. ❑ At qe suppliers are able to sell all and are not left with any unsold stocks. ◼ EQUILIBRIUM CONDITION ❑ The equality between demand and supply can be written as : ◼ qd = qs