221-230

• Dura, Codruța Cornelia
• Mitran, Ilie
• Driga, Imola

Equilibrium can be described as an ideal market situation, in which the interests of economic agents are best served, and the resources are allocated and used based on certain criteria and at a normal level of efficiency for every stage. Market equilibrium is derived from a problem specific to non-cooperative game theory with zero-sum and two players. In order to analyze market equilibrium, the main issue is to determine the equilibrium price in different situations: knowing the functions of supply and demand, knowing the elasticity of these functions, taking into account the existence of income tax etc. The results presented in this paper are broad and dwell on the well-known results for Cobweb and Laffer models. An important advantage of these findings is that they are convenient in terms of calculations and they have interesting economic interpretations.

• Economics and Business
• Computer and information sciences

• Managerial economics
• Finance
• Statistics

equilibrium price, supply-demand relation, the elasticity of the supply function, the elasticity of the demand function, the equation of price dynamics, the dynamic index of prices

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