Examlex
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Equilibrium Price
The price point at which the supply of an item matches the demand for it, resulting in a stable market situation without excess or shortage.
Equilibrium Quantity
The quantity of a good or service at which supply equals demand, resulting in no net surplus or shortage in the market.
Ironing Boards
Flat, foldable boards used as a stable surface for ironing clothes and linens.
Equilibrium Quantity
The quantity of goods or services supplied that is equal to the quantity demanded at a particular price level, reaching a state of market balance.
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