Apr 27 2012

Disequilibrium

Published by at 7:59 am under

When the price in a market is either too high or too low, so that the quantities supplied and demanded are not the same. If a price is higher than equilibrium, there will be a surplus in the market, meaning the quantity supplied will be greater than the quantity demanded. If a price is below equilibrium, there will be a shortage, meaning that the quantity demanded will be greater than the quantity supplied.

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