{"id":157,"date":"2024-05-29T23:01:12","date_gmt":"2024-05-29T23:01:12","guid":{"rendered":"https:\/\/course.oeru.org\/miec101\/?page_id=157"},"modified":"2024-05-29T23:01:12","modified_gmt":"2024-05-29T23:01:12","slug":"market-equilibrium","status":"publish","type":"page","link":"https:\/\/course.oeru.org\/miec101\/learning-pathways\/supply-demand-and-equilibrium\/market-equilibrium\/","title":{"rendered":"Market equilibrium"},"content":{"rendered":"<div id=\"content\" class=\"mw-body container\" role=\"main\">\n<div class=\"row\">\n<div class=\"col-md-12\">\n<div class=\"panel\">\n<div class=\"panel-body\">\n<div id=\"bodyContent\">\n<div id=\"mw-content-text\" lang=\"en\" dir=\"ltr\" class=\"mw-content-ltr\">\n<p>\n<\/p>\n<div class=\"thumb tleft\">\n<div class=\"thumbinner thumbnail\" style=\"width:254px;\"><a href=\"https:\/\/wikieducator.org\/File:Stockmarketinred.jpg\" class=\"image\"><img loading=\"lazy\" decoding=\"async\" alt=\"Stockmarketinred.jpg\" src=\"\/\/wikieducator.org\/images\/b\/b4\/Stockmarketinred.jpg\" width=\"252\" height=\"252\" class=\"thumbimage img-responsive\"><\/a>  <\/p>\n<div class=\"thumbcaption\"><\/div>\n<\/div>\n<\/div>\n<h2><span class=\"mw-headline\" id=\"Introduction_to_market_equilibrium\">Introduction to market equilibrium<\/span><\/h2>\n<p>&#8220;The logic of the model of demand and supply is simple. The demand curve shows the quantities of a particular good or service that buyers will be willing and able to purchase at each price during a specified period. The supply curve shows the quantities that sellers will offer for sale at each price during that same period. By putting the two curves together, we should be able to find a price at which the quantity buyers are willing and able to purchase equals the quantity sellers will offer for sale.&#8221;<br \/>\n<i>&#8211; Principles of Microeconomics<\/i>\n<\/p>\n<p>When left alone, a market will move to equilibrium; in other words, the market price will move to the level at which the quantity supplied equals the quantity demanded. However, this outcome can be both desirable and undesirable for buyers or sellers.\n<\/p>\n<p>\n<\/p>\n<div class=\"panel iDevice\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"activity\" src=\"https:\/\/course.oeru.org\/miec101\/wp-content\/themes\/oeru_course\/idevices\/Icon_activity.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>Activity<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t<\/p>\n<p><a rel=\"nofollow\" class=\"external text\" href=\"https:\/\/saylordotorg.github.io\/text_principles-of-microeconomics-v2.0\/s06-03-demand-supply-and-equilibrium.html\">Principles of Microeconomics: &#8220;Chapter 3, Section 3: Demand, Supply, and Equilibrium&#8221;<\/a>\n<\/p>\n<ul>\n<li> Read this section to learn how demand and supply interact with one another to determine prices and quantities that may or may not be optimal. Attempt the &#8220;Try It\u201d problem. Take a moment to read through the stated learning outcomes for this chapter of the text, which you can find at the beginning of each section. These outcomes should be your goals as you read through the chapter.\n<\/li>\n<\/ul>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n<p>\n<\/p>\n<h2><span class=\"mw-headline\" id=\"Market_equilibrium\">Market equilibrium<\/span><\/h2>\n<p>\n<\/p>\n<div class=\"panel iDevice\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"activity\" src=\"https:\/\/course.oeru.org\/miec101\/wp-content\/themes\/oeru_course\/idevices\/Icon_activity.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>Activity<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t<\/p>\n<p><a rel=\"nofollow\" class=\"external text\" href=\"https:\/\/www.khanacademy.org\/economics-finance-domain\/microeconomics\/supply-demand-equilibrium\/market-equilibrium-tutorial\/v\/market-equilibrium\">Khan Academy: &#8220;Market Equilibrium&#8221;<\/a>\n<\/p>\n<ul>\n<li> Watch this video about market equilibrium.\n<\/li>\n<\/ul>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n<p>\n<\/p>\n<h2><span class=\"mw-headline\" id=\"Simultaneous_shifts_in_supply_and_demand\">Simultaneous shifts in supply and demand<\/span><\/h2>\n<p>\n<\/p>\n<div class=\"panel iDevice\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"activity\" src=\"https:\/\/course.oeru.org\/miec101\/wp-content\/themes\/oeru_course\/idevices\/Icon_activity.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>Activity<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t<\/p>\n<p><a rel=\"nofollow\" class=\"external text\" href=\"https:\/\/www.khanacademy.org\/economics-finance-domain\/microeconomics\/supply-demand-equilibrium\/market-equilibrium-tutorial\/v\/changes-in-market-equilibrium\">Khan Academy: &#8220;Changes in Market Equilibrium&#8221;<\/a>\n<\/p>\n<ul>\n<li> Watch this video about changes in market equilibrium.\n<\/li>\n<\/ul>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n<p>\n<\/p>\n<h2><span class=\"mw-headline\" id=\"Putting_demand_and_supply_to_work\">Putting demand and supply to work<\/span><\/h2>\n<p>\n<\/p>\n<div class=\"panel iDevice\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"activity\" src=\"https:\/\/course.oeru.org\/miec101\/wp-content\/themes\/oeru_course\/idevices\/Icon_activity.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>Activity<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t<\/p>\n<p><a rel=\"nofollow\" class=\"external text\" href=\"https:\/\/saylordotorg.github.io\/text_principles-of-microeconomics-v2.0\/s07-01-putting-demand-and-supply-to-w.html\">Principles of Microeconomics: &#8220;Chapter 4, Section 1: Putting Demand and Supply to Work&#8221;<\/a>\n<\/p>\n<ul>\n<li> Read this section to learn about some applications of the demand and supply model. Attempt the &#8220;Try It\u201d problem.\n<\/li>\n<\/ul>\n<p><a rel=\"nofollow\" class=\"external text\" href=\"https:\/\/www.boundless.com\/economics\/textbooks\/1515\/introducing-supply-and-demand-3\/\">Boundless: &#8220;Introducing Supply and Demand&#8221;<\/a>\n<\/p>\n<ul>\n<li> Read each section of this chapter for a mathematical exposition of the demand and supply model. The chapter also covers price ceilings and price floor analysis as well as quantity regulations.\n<\/li>\n<\/ul>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n<p><!-- \nNewPP limit report\nCPU time usage: 0.046 seconds\nReal time usage: 0.067 seconds\nPreprocessor visited node count: 335\/1000000\nPreprocessor generated node count: 963\/1000000\nPost\u2010expand include size: 8878\/2097152 bytes\nTemplate argument size: 3650\/2097152 bytes\nHighest expansion depth: 7\/40\nExpensive parser function count: 0\/100\n--><\/p>\n<p><!-- Saved in parser cache with key we_en-mw_:pcache:idhash:177000-0!*!*!!*!2!* and timestamp 20240529033636 and revision id 1003532\n -->\n<\/div>\n<div class=\"visualClear\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"row\">\n<div class=\"col-md-12\">\n<ul class=\"pager\">\n<li class=\"previous\">\n            <a href=\"\/miec101\/learning-pathways\/supply-demand-and-equilibrium\/supply\">\u2190 Previous<\/a>\n          <\/li>\n<li class=\"next\">\n            <a href=\"\/miec101\/learning-pathways\/price-controls-and-elasticity\/introduction-and-objectives\">Next \u2192<\/a>\n          <\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<div id=\"wenote-ids\"><script type='text\/javascript' id='wenotes-ids'>\n    var WEnotesSite = \"https:\/\/wikieducator.org\";\n    var WEnotesPath = \"\/Introduction_to_principles_of_microeconomics\/Market_equilibrium\";\n    var WEnotesSiteID = \"0e3d258fbd36841f92259eefcd41d5e9\";\n    var WEnotesPathID = \"c42ff00dee4eecff7c8d0748d38bf059\";\n    var WEnotesIDs = { site: \"https:\/\/wikieducator.org\", path: \"\/Introduction_to_principles_of_microeconomics\/Market_equilibrium\", site_id: \"0e3d258fbd36841f92259eefcd41d5e9\", path_id: \"c42ff00dee4eecff7c8d0748d38bf059\" };\n<\/script><\/div>\n<\/div>\n<footer><\/footer>\n","protected":false},"excerpt":{"rendered":"<p>Introduction to market equilibrium &#8220;The logic of the model of demand and supply is simple. The demand curve shows the quantities of a particular good or service that buyers will be willing and able to purchase at each price during a specified period. The supply curve shows the quantities that sellers will offer for sale [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":145,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-157","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/pages\/157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/comments?post=157"}],"version-history":[{"count":1,"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/pages\/157\/revisions"}],"predecessor-version":[{"id":158,"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/pages\/157\/revisions\/158"}],"up":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/pages\/145"}],"wp:attachment":[{"href":"https:\/\/course.oeru.org\/miec101\/wp-json\/wp\/v2\/media?parent=157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}