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Q3. What is market equilibrium? Take an example of pizza (assume its price and quantity demanded) and analyse graphically, what happens to the equilibrium price

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Q3. What is market equilibrium? Take an example of pizza (assume its price and quantity demanded) and analyse graphically, what happens to the equilibrium price and quantity when, (a) there is increase in demand and (b) there is increase in supply. (4 Marks)

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