Examlex
Which two of the following theories assert that behavior is determined?
Equilibrium Price
The price at which the quantity of a good or service demanded equals the quantity supplied, leading to market equilibrium.
Equilibrium Quantity
The amount of products or services available and sought after at the market's balance price.
Equilibrium Quantity
The quantity of goods or services supplied and demanded at the equilibrium price, where supply equals demand.
Excess Demand
A scenario in which the demand for a product or service surpasses the supply available at the existing price.
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