Definition of Equilibrium Output?


Equilibrium output is the level of output at which the quantity demanded is equal to the quantity supplied. It's the point where the supply and demand functions intersect. In reference to an economy, equilibrium output is defined as the point where aggregate demand and aggregate supply are equal. At this level of output, whatever is supplied on the market is all purchased and the given the price.
Q&A Related to "Definition of Equilibrium Output?"
We know that at equilibrium expenditure is equal to aggregate demand which is equal to output. How do we solve for the value of output given separate components of our aggregate demand
Answer I don't know. PLEASE tell me or us.
The definition of the term dynamic equilibrium is a state of balance
thermodynamics of equilibrium: the aspect of thermodynamics concerned with thermal equilibrium
About -  Privacy -  Careers -  Ask Blog -  Mobile -  Help -  Feedback  -  Sitemap  © 2014