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What can cause an increase in the LAS?
Equilibrium Price
The rate at which supply and demand for a specific good or service are equal, creating a stable market condition.
Equilibrium Quantity
The quantity of goods or services that is supplied and demanded at the equilibrium price, where the amount producers are willing to supply equals the amount consumers are willing to buy.
Equilibrium Price
The price at which the quantity of a good or service demanded by consumers is equal to the quantity supplied by producers, resulting in a stable market condition.
Equilibrium Quantity
The supply and demand for goods or services at the price point where equilibrium is achieved in a market.
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