The equilibrium or market price exists when the supply of a product exceeds the quantity that consumers are willing to purchase.

Name: The equilibrium or market price exists when the supply of a product exceeds the quantity that consumers are willing to purchase.
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The equilibrium or market price exists when the quantity that consumers are willing to purchase equals the supply of a product. This is the point where the market clears, meaning that there are no excess supplies or unsold products left over.

The Equilibrium or Market Price Exists When the Supply of a Product