The equilibrium point defines the point where the supply and demand lines intersect. At this point, qunatity supplied equals to quantity demanded at a given price.
A shift in the equilibrium point to another is usually affected by factors such as price change, scarcity and so on.
An increase in price would lower the quantity demanded just as the rise in the demand would increase the price of a commodity.
Increase in supply would lead a decline in the commodity price as demand has dropped.
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