Examlex
A multivariate data set contains:
Demand Curves
Graphical representations showing the relationship between the price of a good or service and the quantity demanded for a given period.
Supply Curves
Graphical representations that show the relationship between the price of a good and the quantity of the good that suppliers are willing to sell.
Above Equilibrium
Above Equilibrium describes a condition where the price of a good or service is higher than the equilibrium price, leading to a surplus of supply over demand.
Quantity Demanded
It is the specific amount of goods or services that consumers are willing and able to purchase at a given price point, at a specific time.
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