Explain a current market equilibrium in your work, school or personal life Shift demand and supply, and forecast what will happen when demand, supply, or both shifts, (you can discuss any topics including cars, housing, supplies, etc.) Describe real phenomena using shifts in demand and supply (start with data, then explain what happened, e.g., why does the daily price of gasoline increase in the summer and decrease in the winter.

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Answer In my personal life I recently observed a market equilibrium in the housing rental market in my city Let me break down the scenario Background ... View the full answer