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above equilibrium

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Wiki User

14y ago
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6mo ago

rises, it means that there is high demand for a product or service but limited supply. The increase in price serves as a signal to suppliers and encourages them to increase production to meet the demand. However, if the shortage persists, it can lead to prolonged high prices and potential imbalances in the market.

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Q: When a stortage exists in a market and price?
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