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What happens when only a change in price occurs in the marketplace?
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What happens when only a change in
price occurs in the marketplace?

User Ikechukwu Eze
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Answer:

When change in price causes only small change in quantity demanded ... In a perfectly competitive market, supply & demand work together to determine prices. ... When prices are set above or below the equilibrium price, disequilibrium occurs and results in... shortages surplus.

User Duffy
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