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Question(s) / Instruction(s):

A market is in equilibrium:

  1. Provided there is no surplus of the product.
  2. At all prices above that shown by the intersection of the supply and demand curves.
  3. If the amount producers want to sell is equal to the amount consumers want to buy.
  4. Whenever the demand curve is downsloping and the supply curve is upsloping.

 

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