Examlex
Perform the operations and simplify the result when possible.
Demand
The quantity of a good or service that consumers are willing and able to purchase at various prices.
Supply
The total amount of a good or service available for purchase by consumers at a given price level and time.
Equilibrium Quantity
The quantity of a good or service at which the quantity demanded equals the quantity supplied at the market price.
Demand
The consumer's desire and willingness to pay for a product or service at a specific price.
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