Economy, asked by goodra4770, 11 months ago

Explain the status of zero excess demand and zero excess supply.

Answers

Answered by harshita774838

Answer:

There is your answer....

Explanation:

Therefore, equilibrium in perfectly competitive market can be defined alternatively as zero excess demand zero excess supply situation..

when ever market supply is not equal to market demand, and hence the market is not in equilibrium, there will be a tendency for the price to change.....

I hope it will help you.....

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