Q1 markets left alone always tend to equilibrate that is

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Q1. Markets left alone always tend to equilibrate, that is, find their way back to the equilibrium point. What is required to maintain a price that is higher or lower than equilibrium?

Q2. How does the supply of land differ from the supply of most labor? How will the effect on price of an outward shift in demand for labor differ from the effect on price of an equivalent shift in the demand for land?

Reference no: EM13354620

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