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Some pet owners use a "clicker" device to train their pets. For example, if a cat owner wants her cat to stay off the bed, she might make a "click" sound with a clicker whenever the cat gets on the bed, and follow it shortly by a squirt of water to the cat. In this example, identify the CS, US, CR, and UR.
Supply Curve
represents the relationship between the price of a good or service and the quantity of that good or service that suppliers are willing to offer for sale, holding all else constant.
Quantity Supplied
The total amount of a good or service that producers are willing and able to sell at a given price in a given time period.
Quantity Demanded
The total amount of a good or service that consumers are willing to purchase at a given price over a specified period.
Equilibrium
A situation where the equilibrium between market demand and supply is reached, leading to stable prices.
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