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Increase in Demand
Occurs when more of a good or service is sought by consumers at each and every price, often represented by a rightward shift of the demand curve.
Equilibrium Quantity
The quantity of goods or services that is supplied and demanded at the equilibrium price, where supply equals demand.
Demand Falls
A situation where there is a decrease in the quantity of a product or service that consumers are willing and able to purchase at a given price.
Equilibrium Quantity
At the market equilibrium price, the amount of goods or services offered matches the amount requested.
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