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26 July, 20:42

Explain what equilibrium is and how is it achieved

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  1. 26 July, 21:45
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    The equilibrium price is the price of a good or service when the supply of it is equal to the demand for it in the market. If a market is at equilibrium, the price will not change unless an external factor changes the supply or demand, which results in a disruption of the equilibrium.
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