In general terms, a dynamic equilibrium describes a state of balance between two processes. The term is used in scientific fields such as chemistry and physics which is where it originates. This ...

At equilibrium, the concentrations of reactants and products do not change. But the forward and reverse reactions have not stopped - they are still going on, and at the same rate as each other.

A dynamic equilibrium is formed in a reversible reaction when the rates of the forward and reverse reaction are equal and the amounts of the reactants and the products remains constant. In this ...

This paper concerns the problem of properly specifying the dynamic structure of models of industry costs and factor demands. The paper compares three common frameworks: long-run costs with all factors ...