Suppose the current price of hamburger is $3.00 per pound. However, supply and demand analysis indicates that the equilibrium price is actually $2.50 per pound. Using a diagram to aid you, show and explain how the market will adjust toward equilibrium.

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The Answer of Suppose the current price of hamburger is $3.00 per pound. However, supply and demand analysis indicates that the equilibrium price is actually $2.50 per pound. Using a diagram to aid you, show and explain how the market will adjust toward equilibrium.

Suppose the Current Price of Hamburger Is $3