Find out the equilibrium price and equilibrium quantity, Microeconomics

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Find out the equilibrium price and equilibrium quantity

Question: What is the equilibrium price and equilibrium quantity? If the actual price in the market were above the equilibrium price, what would drive the market toward the equilibrium? If the actual price in this market is below the equilibrium price, what would drive the market toward the equilibrium?

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Microeconomics: Find out the equilibrium price and equilibrium quantity

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Microeconomics: Find out the equilibrium price and equilibrium quantity

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