The market is cleared, there being no surplus and no shortage. It is ideal for the company to set the price of their commodity at the equilibrium price. But in reality, it would never happen. If there are more buyers than sellers, the price would be higher than the equilibrium price because the demand is more than supply. Similarly, if the supply is more than demand, the price would set below the equilibrium price.
Elasticity is another important concept in business pricing decisions.
If demand is inelastic, a given fall or rise in price causes relatively no change in the amount bought. Time also plays a big role in elasticity. For example, if the price of gasoline increases, the quantity bought would only diminish a little in a day or a week. Therefore, the demand for gasoline is inelastic in a day or week. But the demand over a month will be certainly elastic, because a month is long enough for people to change their driving behavior.