Describe role of shortage and surplus in competitive markets, Microeconomics

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Describe role of shortage and surplus in competitive markets

Problem

1. Explain what is meant by the term market equilibrium.

2. Describe the role of shortages and surpluses in competitive markets.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Describe role of shortage and surplus in competitive markets

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Microeconomics: Describe role of shortage and surplus in competitive markets

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