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Suppose there are seven shops that sell fishing rods in a lakeside resort town. If we add the respective quantities that each shop would produce
Suppose there are seven shops that sell fishing rods in a lakeside resort town. If we add the respective quantities that each shop would produce and sell at each of the seven shops when the price of fishing rods is $17, $18, $20, $22, $24, $28, and $30 per fishing rod, we have found the surplus or shortage depending on market conditions. equilibrium curve. market supply curve. market demand curve
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