In micronomics what occurs when equilibrium is reached/

prices decline

prices increase

prices are set

prices fluctuate

prices are set

Explanation:

In micronomics, the price is established as an interaction between demand (represented by buyers) and supply (consisting of sellers-producers). The balance is said to be established when the quantity demanded is equal to the quantity offered.

The term is known as equilibrium price.

The equilibrium price happens as the quantity of goods offered goes same for the quantity of goods demanded. A point where supply and demand curves will be a intersect, as shown in the image below.

This is the most a product can cost, the maximum at which the most consumers are willing to buy the most quantity.

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