Mukul Sharma on Instagram: "Equilibrium diagram explained: On the Y axis we have price P. On the X axis we have Quantity Demanded Q. The downward sloping curve is the market demand curve i.e. sum of all individual demand curves for that product. It is downward sloping because as price increases, demand falls and as price decreases demand rises. The supply curve is upward sloping because as rpice inceases supply increases and as price falls supply falls. Where these two curves meet is the equilib