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After narrowly escaping a mountain lion attack, which of the following reactions would your nervous system initiate?
Equilibrium Price
The market price at which the supply of an item equals the quantity demanded.
Equilibrium Quantity
The volume of goods or services that are both presented and required at the price where supply meets demand in a market.
Quantity Demanded
Refers to the total amount of a good or service that consumers are willing to purchase at a given price.
Demand Curve
A chart that illustrates how the quantity of a product demanded is related to its price.
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