when quantity demanded = quantity supplied. Market equilibrium: when quantity demanded = quantity supplied

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  • when quantity demanded = quantity supplied. Market equilibrium: when quantity demanded = quantity supplied.
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  • Quantity demanded > quantity supplied at all prices lower than R5 per kg (excess demand) Quantity supplied > quantity demanded at all prices higher than R5 per kg (excess supply)
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  • With the equilibrium price it can be seen that consumerslessmaximum pay some consumers are paying less than the maximum they are willing to pay suppliersmore minimum accept some suppliers are receiving more than the minimum they were willing to accept
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