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Module 1: The competitive market system

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Market Equilibrium

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XSIQ
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Economics - Market Equilibrium

Market Equilibrium

Market equilibrium occurs where the quantity demanded of a product equals
the quantity supplied.

At equilibrium, there is neither a shortage nor a surplus of the product,
which means the market is cleared during the trading period. It is where
the conflict between consumers wanting low prices and producers wanting
high prices is resolved.

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