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answer by yourhope:
hi! : )
question: explain if there is excess supply or demand of goods at the equilibrium price and why?
answer: equilibrium is at the point where supply and demand meet and the prices are set. since the price is set as a equilibrium, there won't be an excess to either, but if you set the price above equilibrium, you move away from equilibrium and have disequilibrium create excess supply or excess demand!
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