A graphical depiction of equilibrium

A graphical depiction of equilibrium - X , and the...

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graphical depiction of equilibrium . The graphical approach to equilibrium analysis is illustrated  in Figure 1  . The equilibrium price and quantity are determined by the intersection of the two curves.  The equilibrium quantity is 4 units of good 
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Unformatted text preview: X , and the equilibrium price is $2 per unit of good X . This result is the same as the one obtained by simultaneously solving the algebraic equations for demand and supply. Figure 1 Equilibrium in the market for good X...
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A graphical depiction of equilibrium - X , and the...

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