Uploaded April 2024 | Updated September 2026, 1 week ago

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Join Professor Matt Hill as he walks you through the classroom slides of Day 5: " Finding Equilibrium" from MRU's free "Supply, Demand, and Equilibrium" unit plan. Get the unit plan here: mru.io/xng

Learning Objectives:
- Define equilibrium.
- Explain how the interaction of supply and demand determines the equilibrium price and quantity.
- Solve for the equilibrium price and quantity, given a change in demand and supply.
- Explain how a change in the prices of a market of one good or service can affect the equilibrium price and quantity of another good or service.