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MrGrimey MrGrimey
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Posts: 336
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6 years ago
When a market is in disequilibrium consumers and producers change their behavior. As a result the market reaches equilibrium.
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
Author:
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wrote...
6 years ago
True. For example, when a shortage exists at a given price, consumers bid up the price and firms increase production until the equilibrium is reached.
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