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fredd [130]
3 years ago
15

Explain id there is excess supply or demand of goods at the equilibrium price and why? In sentences

Business
1 answer:
enot [183]3 years ago
8 0

Answer by YourHope:


Hi! :)


Question: Explain if there is excess supply or demand of goods at the equilibrium price and why?


Answer: Equilibrium is at the point where supply and demand meet and the prices are set. Since the price is set as a equilibrium, there won't be an excess to either, but if you set the price above equilibrium, you move away from equilibrium and have disequilibrium create excess supply or excess demand!


Have a BEAUTIFUL day~

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