Answer:
Equilibrium price is where supply and demand meet and the prices are set. Because the price is set as equilibrium (where supply and demand are both equal amounts), there won't be an excess of either. However if you set the price above equilibrium, you move away from equilibrium and have disequilibrium which can create excess supply or excess demand.
Explanation:
trust me bro
A state or condition in which economic forces are balanced is referred to as economic equilibrium.
1. The equilibrium price is the point at which supply and demand meet and prices are determined.
2. Because the price is fixed to be in equilibrium (where demand and supply are equal), there will be no surplus of either.
3. However, if the price is set above equilibrium, you move away from equilibrium and generate disequilibrium, which can result in excess demand or excess supply.
For more information about equilibrium price, refer below
https://brainly.com/question/25300841
