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In microeconomics we are concerned about markets being in

Market Equilbrium

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In microeconomics, we are concerned about markets being in equilibrium. This refers to the point at which price, supply, and demand, are in equilibrium.

Explain what it means to have a market in equilibrium, and how changes in supply and price would affect this equilibrium.

Make certain you include an example to illustrate your explanation and include one reference.

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Business Management: In microeconomics we are concerned about markets being in

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