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Tony,age 71,married Nichole,age 34

question 5

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Tony,age 71,married Nichole,age 34.They are not using birth control because of Tony's advanced age.You can advise them that


Definitions:

Equilibrium Quantity

The quantity of goods or services supplied and demanded at the equilibrium price in a market.

Equilibrium Price

The price point in the market where the amount of products offered meets the amount of products wanted.

Demand

The level of demand for a good or service that purchasers have the desire and financial ability to acquire at varying prices over a designated period.

Supply Curve

A graph that shows the relationship between the price of a good and the quantity of the good that producers are willing to sell at various prices.

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