Question

explain how market adjusts to the market equilibrium when the price in the market is not originally set at the market equilibrium price?

Answer 1

Answer:

Once you lower the price of your product, your product's quantity demanded will rise until equilibrium is reached. Therefore, surplus drives price down. If the market price is below the equilibrium price, quantity supplied is less than quantity demanded, creating a shortage. The market is not clear.

Explanation:

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