Discuss How a Market Reaches Equilibrium

question 78

Essay

Discuss how a market reaches equilibrium. How is it expressed graphically?

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Definitions:

Misrepresentation

The act of providing false or misleading information, intentionally or unintentionally, during a transaction or contractual agreement.

Fraud in the Inducement

A deception used to convince another party to agree to a transaction or contract, impacting the victim's decision-making process.

Opinion

A statement or write-up that expresses a belief, judgment, or way of thinking about something, not necessarily based on proven facts.

Duress

A situation where a person is forced into an agreement or action against their will by means of threats, violence, constraints, or other pressure.