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Equilibrium Price
The market price at which the quantity of goods supplied equals the quantity of goods demanded.
Equilibrium Price
The price at which the quantity of a good or service demanded by consumers is equal to the quantity supplied by producers, resulting in a market balance.
Quantity
The quantity of a substance or item that is available or manufactured.
Competitive Market
A market structure characterized by a large number of buyers and sellers, where no single entity can dictate the market price.
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