2. When do market prices fall? 3. What is the predicted effect on equilibrium price and equilibrium quantity in the avocado market of an increase in technological progress in avocado harvesting?
2. When do market prices fall? 3. What is the predicted effect on equilibrium price and equilibrium quantity in the avocado market of an increase in technological progress in avocado harvesting?
Chapter1: Making Economics Decisions
Section: Chapter Questions
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2. When do market prices fall?
3. What is the predicted effect on
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Equilibrium in a market occurs when: quantity supplied and quantity demanded are equal at the market clearing price.
Equilibrium point is when the demand and supply forces agree at a price and quantity to trade for a particular goods or service.
Market refers to a platform or place where selling and buying of stocks or goods are take place.
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