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Demand Increases
A situation in which the desire and ability of consumers to purchase a good or service grow, typically leading to higher prices and potentially greater supply.
Market Supply
The total amount of a specific good or service that is available to consumers at current prices in a given market.
Long-Run Equilibrium
A state in which all firms in a market are making normal profits and there is no incentive for market entry or exit, usually achieved in the long term.
Demand Increases
Situations or conditions that lead to a rise in the quantity of a product or service that consumers are willing and able to purchase.
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