Equilibrium in Economics

S.No	Concept	Conditions	Explanation
1	Consumers Equilibrium Single commodity	MUx =price	If  MUx > Px  consumer is in gains, he will increase consumption.     MUx < Py   consumer is in loss, he will reduce consumption
2	Consumers Equilibrium Two commodity (utility analysis)	MUX/Px= MUy/Py	If MUX/Px >  MUy/Py   - utility per rupee from Goodx is more than utility per rupee of Goody. So consumption of Goodx is increased and consumption of Goody is reduced.. MUX/Px <  MUy/Py utility per rupee from Goodx is less than utility per rupee of Goody. So consumption of Goodx is reduced and consumption of Goody is increased.
3	Consumers Equilibrium Indifference curve approach	MRSxy =Px/Py	If MRSxy > Px/Py  - Consumer is willing to give up more but he has to give up less amount of other good. MRSxy  < Px/Py  - Consumer is willing to give up less but he has to give up more amount of other good.
4	Producers Equilibrium	MC = MR MC Must rise after intersecting MR	MC > MR adding more to cost. Profits are not maximum. MC

5	Market Equilibrium	Quantity demanded equals to quantity supplied.	Qd > Qs     Excess Demand Qd < Qs     Excess Supply
6	Equilibrium level of income ,output and employment	AS  =  AD C+S = C+I	AS > AD unwanted unsold stock of goods. So output and employment is reduced. AS < AD Reduction in stock with firm. So firms will increase output by increasing employment
7	Equilibrium level of income ,output and employment	S  =  I	S > I people are saving more and consuming less. Unwanted unsold stock of goods. So output and employment is reduced. Income will fall and saving will fall. S < I people are saving less consuming more. Reduction in stock with firm. So firms will increase output by increasing employment. Income will increase savings will increase.