If 250 units of plastics are produced and consumed, then the market equilibrium has been reached.
In this context, market equilibrium refers to the situation in which a market price is set through competition in such a way that the quantity of goods or services demanded by buyers and the quantity of goods or services provided by sellers are equal. This pricing, which is frequently referred to as the competitive price or market clearing price, tends to remain constant barring changes in supply or demand. The quantity is known as the "competitive quantity" or market clearing quantity. Economic equilibrium, however, also holds true in imperfectly competitive marketplaces and takes the form of a Nash equilibrium. Equilibrium, for instance, happens when the quantity demanded and the quantity given are equal, as in the classic text perfect competition.
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