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Joel Ola
In a nutshell, equilibrium is the point at which there is a balance in an equation. for example, we have balanced diet. In Economics whenever we have a set of data, we have situation whereby the price will be the same as the quantity demanded. that is the equilibrium or the price can go for the quantity supplied. all these are situations where you have uniformities in data.
0 21-01-2016 20:19:00 +0000
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Chioma Njoku
Equilibrium is point where the suppliers and buyers agree in the same price and quantity to buy and sell respectively. Thus is a point where they are both happy and satisfied
0 07-02-2016 16:15:00 +0000
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