Question: Describe equilibrium, surplus and shortage. For each situation, explain what the relationship is between Qd and Qs, and between S and D. What is causing

Describe equilibrium, surplus and shortage. For each situation, explain what the relationship is between Qd and Qs, and between S and D. What is causing these relationships to exist?

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Describe equilibrium, surplus and shortage. For each situation, explain what the relationship is between Qd and Qs, and between S and D. What is making these relationships exist?

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