It is the hundred years war
Following the war art generally moved away from realistic to "interpretational", since many artists were beginning to challenge the status quo of art that had existed for hundreds of years prior.
The Privy Council goes back to the earliest days of the Monarchy, when it comprised those appointed by the King or Queen to advise on matters of state. As the constitution developed into today's constitutional monarchy
The first state to ratify the new constitution was Delaware
The equilibrium is the price that comes out from adding all the direct related costs in producing the good or service. To this total you have to add the indirect costs, for example, taxes, salaries, etc. Add up both results and you will have the price.
The equilibrium price is the price that covers all your expenses, both direct and indirect. With this price you do not lose nor earn any money.