What is the concept of equilibrium price?

Related questions

1. What happens if the price is above the equilibrium price?
2. What happens as the price of a good decrease?
3. Why is equilibrium efficient?
4. What is equilibrium quantity?
5. When market price is above equilibrium price?
6. What happens to prices when equilibrium is disturbed?
7. Why market equilibrium is efficient?
8. What is equilibrium quantity and equilibrium price?
9. What does equilibrium price mean?
10. Why is the equilibrium price the best deal available for both buyers and sellers?

Tags

1. #service
2. #supply
3. #price
4. #definition
5. #equilibrium
6. #equal
7. #demand
8. #where
9. #product