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Miranda Is Learning How to Play Tennis

question 12

Multiple Choice

Miranda is learning how to play tennis.She has a unique way of hitting a backhand shot,but after a lesson with a professional instructor,Miranda changes her backhand technique to
Imitate the instructor's method of


Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, meaning there is no excess supply or demand.

Equilibrium Quantity

The amount of products or services available that matches the amount consumers are willing to buy at the equilibrium price in the market.

Equilibrium Point

Point at which quantity demanded equals quantity supplied; where demand and supply curves cross.

Equilibrium Price

The cost at which the amount of a product supplied matches the amount of the product desired.

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