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The supplies and demands data for a certain elective surgical procedure. if suppliers provide the quantity of health care demanded and insurance pays 50 percent of the remaining equilibrium price after a $1,000 deductible is satisfied, the quantity of health care demanded will be 16,000.
In economics, economic equilibrium is a situation in which economic forces such as demand and supply are in balance and the values of economic variables do not change without external influences.
The equilibrium price, also known as the market clearing price, is the consumer cost attributable to a product or service for which demand and supply are equal or nearly equal. Manufacturers or sellers can sell units they want to move, and customers have access to units they want to buy.
At equilibrium prices, the supply of goods matches the demand. When a major index goes through a period of correction or flattening, the forces of demand and supply are relatively equal and the market is said to be in equilibrium.
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