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Support Price
A price level set by the government or a regulatory body to ensure that producers receive a minimum price for their products.
Price Elasticities
Measures how responsive the quantity demanded or supplied of a good is to a change in its price, indicating its sensitivity.
Surpluses
The excess of production or supply over demand in the market.
Free Market Equilibrium
A state in an unrestricted market where supply equals demand, and prices stabilize without external interventions.
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