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Demonstrate Graphically and Explain Verbally the Concept of Excess Supply

question 17

Essay

Demonstrate graphically and explain verbally the concept of excess supply. Is price above or below equilibrium?


Definitions:

Expression

A combination of numbers, variables, operators, and sometimes parentheses that represents a value or quantity.

Decimal Notation

A way of expressing numbers that uses a decimal point to separate the whole part from the fractional part.

Expression

A combination of symbols and numbers that represent a mathematical operation or relation.

Difference

The result of subtracting one number from another, or the operation of subtraction itself.

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