This document discusses supply and demand equilibrium. It provides examples of supply and demand schedules and graphs to illustrate how equilibrium price and quantity are determined. The key points are: 1) Equilibrium is reached where the quantity demanded is equal to the quantity supplied, known as equilibrium quantity. 2) The price at which equilibrium quantity is achieved is called the equilibrium price. 3) By analyzing supply and demand schedules and graphs, we can see that the equilibrium price in the example is 3 units and the equilibrium quantity is 30 units.