When Smashburger founder Tom Ryan discusses the challenges the company had finding the right price point, he mentions that if the price was too high, there wouldn't be enough demand to justify the price point. This is known as __________.

This known as MARKET EQUILIBRIUM. A Market Equilibrium is an intersection where the demand and supply in a particular market meets. The prices of goods and services are set to the amount of supply that a company can provide. If the prices are too high, consumers are not encouraged to buy products, therefore the equilibrium will experience an imbalance.

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When Smashburger founder Tom Ryan discusses the challenges the company had finding the right price​ point, he mentions that if the price was too​ high, there​ wouldn't be enough demand to justify the price point. This is known as​ __________.

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When Smashburger founder Tom Ryan discusses the challenges the company had finding the right price point, he mentions that if the price was too high, there wouldn't be enough demand to justify the price point. This is known as __________.