 Market equilibrium computation

Market equilibrium computation refers to the process of determining the price and quantity of a good or service at which the supply and demand for that good or service are equal. In other words, it identifies the point where the quantity consumers are willing to purchase equals the quantity producers are willing to sell, leading to a stable market condition. ### Key Concepts: 1. **Demand Curve**: This typically slopes downward, reflecting the idea that as the price of a good decreases, the quantity demanded increases.