What is an equilibrium price?
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What is an equilibrium price?
Started by Murphy, Sep 05 2005 03:48 PM
3 replies to this topic
#2
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Posted 23 April 2007 - 07:53 PM
Murphy, on Sep 5 2005, 04:48 PM, said:
What is an equilibrium price?
#3
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Posted 12 July 2008 - 07:21 PM
Eq price is where the market is cleared. Where all sellers willing to sell at certain scales of money and goods find buyers with inverse scales who are willing to buy at voluntary prices. However, this is only a speciifc set of relationships at a particular point in time. This is not the same as classical economists of a market price with total supply and toatl demand coming to an equilibrium, merely a state of rest until the next transaction.
#4
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Posted 18 July 2008 - 09:33 PM
Mart Grams, on Jul 12 2008, 07:21 PM, said:
Eq price is where the market is cleared. Where all sellers willing to sell at certain scales of money and goods find buyers with inverse scales who are willing to buy at voluntary prices. However, this is only a speciifc set of relationships at a particular point in time. This is not the same as classical economists of a market price with total supply and toatl demand coming to an equilibrium, merely a state of rest until the next transaction.
Right.
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