(Equilibrium) "If a price is not an equilibrium price, there is a tendency for it to move to its equilibrium level.Regardless of whether the price is too high or too low to begin with, the adjustment process will increase the quantity of the good purchased.Explain, using a demand and supply diagram.

11. (Equilibrium) "If a price is not an equilibrium price, there is a tendency for it to move to its equilibrium level. Regardless of whether the price is too high or too low to begin with, the adjustment process will increase the quantity of the good purchased." Explain, using a demand and supply diagram. Price PH P 0 OH Q Quantity