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11 June, 02:44

What happens when only a change in

price occurs in the marketplace?

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Answers (1)
  1. 11 June, 05:07
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    When change in price causes only small change in quantity demanded ... In a perfectly competitive market, supply & demand work together to determine prices ... When prices are set above or below the equilibrium price, disequilibrium occurs and results in ... shortages surplus.
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