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EXPLAIN how a market would adjust in situations of: a) Excess Demand b) Excess Supply c) Equilibrium EXPLAIN how competition between firms for a consumers

EXPLAIN how a market would adjust in situations of:

a) Excess Demand

b) Excess Supply

c) Equilibrium

EXPLAIN how competition between firms for a consumers and competition among consumers to get their hands on a given good might effects the adjustment in a market.

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