Definition of Equilibrium Output?

Answer

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?"
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