3 Tutorials that teach Market Equilibrium
Take your pick:
Market Equilibrium

Market Equilibrium

Author: Catherine Barry

This lesson will explain the basics of market equilibriums.

See More

You demand. We supply.
Take Microeconomics for just $329.

Sophia college courses cost up to 80% less than traditional courses. *


Notes on "Market Equilibrium"

Terms to Know

Ceteris Paribus

Holding all other variables constant

Consumer Surplus

Determined by the difference between actual price paid for a good and the highest amount the consumer would have paid for the good. 

Producer Surplus

The difference between actual payment for a good and the least amount a producer would have agreed to receive for the good.

Deadweight Loss

A variable that decreases the producer and consumer surplus due to a section of incapacitated resource, such as a tax.