Define market equilibrium what is true of the quantity, Econometrics

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Define market equilibrium what is true of the quantity

1. Define market equilibrium. What is true of the quantity supplied and demanded at the market equilibrium?

2. What happens when price is below the equilibrium price? Why?

3. In what direction will price and quantity move as a result of a demand shift?

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Econometrics: Define market equilibrium what is true of the quantity

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Econometrics: Define market equilibrium what is true of the quantity

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