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On a Supply-And-Demand Diagram,consider a Price for Which the Horizontal

question 4

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On a supply-and-demand diagram,consider a price for which the horizontal distance to the supply curve is shorter than the horizontal distance to the demand curve.There is a __________ at that price and the current price must be __________ the equilibrium price.


Definitions:

Histogram

A graphical representation of the distribution of numerical data, where the data is grouped into ranges and each range corresponds to a vertical bar.

Centers

Locations or points that are central within a larger area, often serving as focal points for activities or distribution.

Histogram

A graphical representation of the distribution of numerical data, where the data is grouped into bins or intervals.

Peaks

Points of maximum value or height in a distribution or dataset.

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