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In your own words describe how a market would adjust in situations of:
a) Excess Demand
b) Excess Supply
c) Equilibrium
As a follow up you might think about what effects do competition between firms for a consumers and competition between consumers to get their hands on a given good have on the adjustment
#Minimum 100 words accepted
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generally speaking many companies are interested in the potential cost savings of using the same product and
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A small-volume foreign auto maker limits the number of its franchised dealers in the United States and gives them exclusive territories. There are also non-dealers who have no official connection with the manufacturer.
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