The uniqueness of equilibrium is referred to the query of the number of times that equilibrium exists and corresponded values are determined in the particular model or system. If there is a single equilibrium that is the demand curve and supply curve meets only one time at a single positive price with the corresponding positive […]
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Meaning of Stable Equilibrium If any small disturbances take place forces come into play to re-establishes in the initial position is called stable equilibrium. It means after any fluctuations either in the price or quantity supplied or demanded if these market forces again come back or move back to the original equilibrium position then such
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For an individual person, equilibrium is said to be attained by him or her when he or she assumed or recognized his or her concrete performance or behavior as the possible most excellent under the given conditions and he or she does not feel beneficial to change his or her actions and in such case, this excellent situation is called equilibrium.
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