In micronomics what occurs when equilibrium is reached/

prices decline

prices increase

prices are set

prices fluctuate

prices are set

Explanation:

In micronomics, the price is established as an interaction between demand (represented by buyers) and supply (consisting of sellers-producers). The balance is said to be established when the quantity demanded is equal to the quantity offered.

The term is known as equilibrium price.

The equilibrium price happens as the quantity of goods offered goes same for the quantity of goods demanded. A point where supply and demand curves will be a intersect, as shown in the image below.

This is the most a product can cost, the maximum at which the most consumers are willing to buy the most quantity.

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most people such as me i dont have one but if   i did i would mostly likely quit my job if the economy was down cylcling that means less money if you go to a bigger job that is prospering you can earn more wage and still be able to feed yourself or why you work all people want more money then they have guarteed most people like me would switch jobs for a better one with higher wage