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A graph has Quantity on the x-axis and price in dollars on the y-axis. A line that represents supply has a positive slope and a line that represents demand has a negative slope. The lines intersect each other at the point of equilibrium. A point on the demand line represents the quantity supplied, and a points on the demand line represents quantity demanded. Both are at the same price point below equilibrium. Use this graph to answer the following questions. In this example, what is occurring within the market? What is there an excess of? What could solve the problem shown in this graph?
Sagot :
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