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Luther and Erasmus both attacked what they saw as abuses and pretensions of the church and the clergy.Compare their criticisms and their approaches to church reform.
Equilibrium Price
The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in market balance.
Surplus
An excess of production or supply over demand, often leading to a decrease in prices.
Shortage
A situation where the demand for a product exceeds the available supply, often leading to higher prices.
Equilibrium
The state in which market supply and demand balance each other, and as a result, prices become stable.
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