long-run equilibrium occurs when long-run aggregate supply and aggregate demand meet. What does having long-run equilibrium indicate about a society?

In a competitive economy, the balance between supply and goods and services occurs when demand and supply match. This means that the needs of consumers and producers are being perfectly met. For each unit produced, one unit will be consumed. Thus, all consumers are in a situation of satisfaction and the suppliers as well. The balance suggests that the economy is working as well as possible.

The society is using all of its resources efficiently.