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

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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?

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Microeconomics

ISBN: 978-0073375854

2nd edition

Authors: Douglas Bernheim, Michael Whinston

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Question Posted: Mar 17, 2016 04:45 AM

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

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Excess demand occurs when price falls below the equilibrium price In this situation consumers are ...View the full answer

Microeconomics

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