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Overproduction or glut or excess supply or demand shortage
When a firm makes a profit by producing enough goods to meet demand without having leftover supply the point of profit is where marginal revenue equals marginal cost.
scarity
The point where marginal revenue equals marginal cost
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Supply and demand graphs meet at the equilibrium price.
The point of intersection of Demand and Supply curves is the equilibrium point.
Overproduction or glut or excess supply or demand shortage
When a firm makes a profit by producing enough goods to meet demand without having leftover supply the point of profit is where marginal revenue equals marginal cost.
When a firm makes a profit by producing enough goods to meet demand without having leftover supply the point of profit is where marginal revenue equals marginal cost.
Demand means what is needed or wanted. If you meet that, you produce or supply as much as is needed or wanted.
scarity
The point where marginal revenue equals marginal cost
The point where the y and x axis meet. You are at your maximum potential of output based on your Supply and Demand curves. See equilibrium .
The point where supply and demand intersect is the equilibrium point. This is the point where quantity demanded and quantity supplied are equal.
Equilibrium is the point where demand = supply