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A nurse manager has ordered equipment for a new unit. The company has sent two notices that the equipment is on back order. The nurse manager is debating whether to wait for the equipment on back order or to cancel the order and go with another company. She discusses this issue with another nurse manager. This is an example of:
Equilibrium Price
The equilibrium price is the market price at which the quantity of goods supplied equals the quantity demanded, leading to a balance in the market.
Market
A space or system in which parties engage in exchange, buying and selling goods and services.
Price
The monetary total projected, essential, or disbursed as payment for an item.
Equilibrium Price
The price in the market where the amount of goods available matches the amount of goods people want to buy.
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