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Supply Decreases
A situation in which the quantity of a product or service that producers are willing and able to sell at all possible prices falls.
Demand Increases
A situation where there is a rise in the quantity of a product or service that consumers are willing and able to purchase at a given price.
Equilibrium Price
The price at which supply and demand for a product or service balance, leading to an stable market condition.
Supply Declines
A situation where the quantity of a good or service that producers are willing to sell at a given price decreases.
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