What is Equilibrium
What do you mean by the term Equilibrium? Also state its proper definition.
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Equilibrium:
A) It is the point where supply and demand curves intersect is termed as the market’s equilibrium.
B) Definition of equilibrium: It is a condition in which the price has reached the level where quantity supplied equivalents quantity demanded.
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Question: A county with a fixed or managed exchange rate would consider i.___________________ its currency if the country is worried about domestic inflation. ii. Briefly Explain? Q : Is sale of scooter is national income Describe whether the sale of old scooter is comprised in national income?
Describe whether the sale of old scooter is comprised in national income?
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Explain the term Shut Down Price? Illustrate it.
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