Walrasian Equilibrium

Walrasian Equilibrium is an economic concept where supply and demand in a market are perfectly balanced. In this state, the prices of goods adjust so that everyone who wants to buy something can find it at a price they are willing to pay, and every seller can sell what they are offering. It reflects an efficient allocation of resources where no one can be made better off without making someone else worse off. In essence, it’s a state where the desires of consumers and the offerings of producers harmonize, leading to a stable and efficient market.