What is meant by market equilibrium?
or
Define market equilibrium.

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Solution

A firm attains market equilibrium when the market supply equals market demand. The price at which the market attains equilibrium is equilibrium price whereas the quantity supplied/demanded is known as equilibrium quantity.

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What is meant by market equilibrium? orDefine market equilibrium.

A firm attains market equilibrium when the market supply equals market demand. The price at which the market attains equilibrium is equilibrium price whereas the quantity supplied/demanded is known as equilibrium quantity.

What is meant by market equilibrium?
or
Define market equilibrium.