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Supply and Demand
Date Submitted: 10/07/2004 03:35:11
Length: 2 pages (508 words)
Views: 180016
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…shown market equilibrium. This is the point where at a certain price level, supply and demand are equal. If the price is above the equilibrium, then there will be an excess of supply and a shortage of demand. If the price is below the equilibrium price, then there is an excess of demand. If market equilibrium is not met, then there will be an excess of supply and a shortage of demand or vice versa.
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