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11. Disequilibrium Suppose the market for cantaloupes is unregulated. That is, cantaloupe prices are free to adjust based on the forces of supply and demand.
11. Disequilibrium
Suppose the market for cantaloupes is unregulated. That is, cantaloupe prices are free to adjust based on the forces of supply and demand.
If a shortage exists in the cantaloupe market, then the current price must belower than the equilibrium price. For the market to reach equilibrium, you would expect: presistent excess demand, buyers to offer higher prices, or sellers to offer lower prices.
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