Discover how competitive equilibrium balances supply and demand in markets, maximizing economic efficiency for profit-driven producers and value-seeking consumers.

But, wanna know why is equilibrium important in economics? Well, this concept is pivotal in both microeconomics, concerning individual players in the market, and macroeconomics, which covers the ...

Many situations in economics are complicated and competitive. New research raises the question of whether many theories in economics may suffer from the very fundamental problem that the key ...

Offord, A. C., and Weiss, J., Faraday discussion, Reading, Sept. 1949 (in the press). Johansson, C. H., Persson, G., and Svensson, B. (1948). IV A, No. 200. The work ...