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The family of Mr. Sanchez has learned that his cerebrovascular accident (CVA, or stroke) impaired his ability to move the right side of his body. They were told the CVA involved the primary somatic sensory area in the right cerebral hemisphere. Did they receive correct information? Explain.
Equilibrium Price
The price at which the quantity of goods supplied equals the quantity demanded, hence, the market is in balance.
Market Price
The ongoing rate at which an asset or service is being offered for buying or selling.
Shortage
An instance where the desire for a good or service outstrips its availability at a given price.
Price Floor
A government or regulatory imposed minimum price set above the equilibrium price, preventing market prices from falling below a certain level.
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