Explain why a situation of excess demand will result, Microeconomics

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Explain why a situation of excess demand will result

Problem

Explain why a situation of excess demand will result in an increase in the market price. Why will a situation of excess supply result in a decrease in the market price?

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: Explain why a situation of excess demand will result

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Microeconomics: Explain why a situation of excess demand will result

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