Shifts and equilibrium
Shifts and equilibrium
Market equilibrium occurs where quantity demanded equals quantity supplied. The equilibrium price, P∗P^*P∗, clears the market, while the equilibrium quantity, Q∗Q^*Q∗, is the amount traded.
Step-by-step lessons on CIE Intl A Level Economics 2.4.2 effects of shifts in demand and supply curves on equilibrium price and quantity. Each one builds up to exam-style questions.