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Question
Define market equilibrium.
Define market equilibrium.
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Solution
Market equilibrium is a situation in which the demand for a commodity is exactly equal to its supply, corresponding to a particular price. At this point, the market is stable and no one wishes to move from this position.
Market equilibrium is a situation in which the demand for a commodity is exactly equal to its supply, corresponding to a particular price. At this point, the market is stable and no one wishes to move from this position.
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