define partial equilibrium with example ?
Answers
Answer:
As defined by Leroy lopes, "A partial equilibrium is one which is based on only a restricted range of data, a standard example is price of a single product, the prices of all other products being held fixed during the analysis." ... Here the dynamic process is that prices adjust until supply equals demand.
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Answer:
As defined by Leroy lopes, "A partial equilibrium is one which is based on only a restricted range of data, a standard example is price of a single product, the prices of all other products being held fixed during the analysis." ... Here the dynamic process is that prices adjust until supply equals demand.
hope this helps u...
plz mark it brainliest...
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