How is the equilibrium price determined? What happens if the price is above the equilibrium price? What happens if the price is below the equilibrium price?
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Q441: Q442: At the market clearing price Q443: Given a market equilibrium point, explain, using Q444: When there is an excess quantity supplied Q445: Which of the following occurs when a Q446: If a scalper for the Super Bowl Q447: The demand for orthodontists' services falls as Q448: "A shortage is the same thing as Q449: A shortage creates a situation that forces Q450: Suppose a shortage for good A exists.
A) there is
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