This document summarizes a lecture on market equilibrium price and quantity. It discusses how equilibrium is reached when quantity demanded (QD) equals quantity supplied (QS), using tables and graphs. The equilibrium price is where the demand and supply curves intersect. Questions and examples are provided to illustrate how equilibrium changes with shifts in demand or supply. For example, if demand or supply increases, the new equilibrium will be a higher quantity and price. The document also shows how to calculate equilibrium mathematically by setting the demand and supply equations equal to each other.