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Market Equiblirium
Economic theory suggests that, in a free market,a single price will exist which brings demand and supply into equilibrium, called equilibrium price.
CHAPTER 3-MARKET EQUILIBRIUM Hanum.pptKey points
Key points
Supply and demand curves intersect at the equilibrium price. This is the price at which we would predict the market will operate.
Supply and demand curves intersect at the equilibrium price. This is the price at which we would predict the market will operate.
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