{"content":{"sharePage":{"page":0,"digests":[{"id":"34823792","dateCreated":"1298602019","smartDate":"Feb 24, 2011","userCreated":{"username":"jmatz1","url":"https:\/\/www.wikispaces.com\/user\/view\/jmatz1","imageUrl":"https:\/\/www.wikispaces.com\/user\/pic\/1298654158\/jmatz1-lg.jpg"},"monitored":false,"locked":false,"links":{"self":"https:\/\/wrightslandofeconomics.wikispaces.com\/share\/view\/34823792"},"dateDigested":1532253251,"startDate":null,"sharedType":"discussion","title":"equilibrium","description":"Equilibrium is the balance in economy. At the equilibrium point both suppliers and consumers are satisfied. The market will always gravitate towards the equilibrium point. The demand curve is downward since as the price decreases the quantity demanded increases. The supply curve is upward sloping since the quantity offered increases as price increases. Because they are opposite sloping curves there will always be an intersection point. This intersection point is called the equilibrium point. Here the price supplied and price demanded equals. Also at this point, the quantity demanded equals the quantity supplied. There always exist a equilibrium point the perfect market place. Consumers must be able to accept a certain quantity and price or else they will go unhappy. Likewise, suppliers must be able to accept a certain quantity and price or else they will go unhappy.","replyPages":[{"page":0,"digests":[],"more":0}]}],"more":false},"comments":[]},"http":{"code":200,"status":"OK"},"redirectUrl":null,"javascript":null,"notices":{"warning":[],"error":[],"info":[],"success":[]}}