sir/mam can you tell me
state of rest in market equilibrium
Market equilibrium is defined as the state of rest that is determined by the rational objectives of the consumers and the producers (i.e. maximisation of satisfaction and profit respectively). It is a state where the aggregate quantity that all the firms want to sell are purchased by consumers, i.e. market supply equals market demand.
State of rest, here, refers to the situation in which there is no incentive or tendency for any change in quantity demanded, quantity supplied and price.
State of rest, here, refers to the situation in which there is no incentive or tendency for any change in quantity demanded, quantity supplied and price.