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    Equilibrium price and the equilibrium quantity

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    What is the difference between Equilibrium price and Equilibrium quantity. What role does elasticity place?

    © BrainMass Inc. brainmass.com October 10, 2019, 2:46 am ad1c9bdddf

    Solution Summary

    This document explains the difference between equilibrium price and equilibrium quantity. It also defines and explains the role of elasticity in the economy.