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Suppose we observe that consumption of electricity decreases when the price of electricity rises.We can say that the two variables are related
Demand
The quantity of a product or service that consumers are willing and able to purchase at various prices.
Coffee Creamer
A dairy or non-dairy product added to coffee in order to enhance its flavor and texture.
Supply Curve
A graphical representation showing the relationship between the price of a good and the quantity supplied at those prices.
Equilibrium Quantity
The quantity of goods or services supplied is equal to the quantity demanded at the market equilibrium price.
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