ECON 101 Lecture Notes - Lecture 5: Excess Supply, Shortage

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Qs does not have to equal qd, however, when somebody strikes a. Equilibrium deal, they by default have to be equal. This is the quality exchanged: qs>qd = excess supply. Shows buyer that they are not selling enough. Incentivizes supplier to lower prices until qs=qd: qs=qd=equilibrium, qs

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