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Equilibrium






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clementine
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I. Equilibrium . Notice that there is one point where supply and demand intersect.This is called the equilibrium pointThe price at this point is called the equilibrium priceThe quantity at this point is called the equilibrium quantity. I. Equilibrium. The dictionary defines the word equilibrium as a situation in which various forces are in balance.This also descries market equilibrium.
Equilibrium

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