What makes surplus and shortage inefficient? Explain.Also How and why do we go back to equilibrium in

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What makes surplus and shortage inefficient? Explain.Also How and why do we go back to equilibrium in each of these cases?

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Microeconomics An Intuitive Approach with Calculus

ISBN: 978-0538453257

1st edition

Authors: Thomas Nechyba

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Question Posted: Mar 21, 2018 04:42 AM

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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 causing these relationships to exist?
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What makes surplus and shortage inefficient? Explain.Also How and why do we go back to equilibrium in

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Surplus and shortage are sorts of inefficiency A surplus is a ...View the full answer

Microeconomics An Intuitive Approach with Calculus

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