Q a. Market equilibrium is a situation where the market clears itself. Show this behaviour with the help of supply and demand graphs? Q b. We often see in competitive markets that a producer can...

Q a. Market equilibrium is a situation where the market clears itself. Show this behaviour with the
help of supply and demand graphs?

Q b. We often see in competitive markets that a producer can neither charge higher prices nor
lower than equilibrium price. Why does this happen? And what are its effects on equilibrium price?