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The point where supply and demand intersect is the equilibrium point. This is the point where quantity demanded and quantity supplied are equal. The point where supply and demand intersect is the equilibrium point. This is the point where quantity demanded and quantity supplied are equal.
The price at this intersection is the equilibrium price, and the quantity is the equilibrium quantity. At the equilibrium price, there is no shortage or surplus: The quantity of the good that buyers are willing to buy equals the quantity that sellers are willing to sell.