The answer is: Prices are set
In microeconomics, equilibrium refers to a situation when the demand and supply for a certain product reach a balance point. In this point, both sellers and buyers already set a price that demeed as fair where both of them obtain the value that they need from each transaction.
In microeconomics, Prices are set when equilibrium is reached.
In economics, this is when the the demand and supply for a certain product reach a balance point.
At this point, the sellers and buyers agree on a certain price which ensures that maximum value is given to the both of them during the course of the transaction.
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