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What Do We Mean by the Equilibrium Price

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What do we mean by the equilibrium price?


Definitions:

Alertness

A state of active attention by the mind to the environment or stimuli, often marked by a heightened sense of awareness.

Drive-Reduction Theory

A theory in psychology that posits the reduction of physiological needs is a primary motivator for behavior.

Tension Reduced

A state or process whereby physiological or psychological tension is decreased.

Stability

The state or quality of being stable; firmness in position.

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