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Lecture

Introduction to Supply and Demand
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by Anu J
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Department
Economics
Course
ECON 1000
Professor
Kieran Furlong
Semester
Fall

Description
thMicroeconomics ECON 1000DAY 3September 13 Demand and SupplyThe demand and supply relationship is fundamental in economics o Relationship between price and quantity also vitalMarshall defined o Shortterm and longterm economics o Equilibriumspartial equilibrium systemsMarket economies tend to reach an equilibriumEquilibriumthe state od rest with no tendency to change given existing variable forces o Partial equilibrium analysisanalysis of the relationship between two variables while holding other variables constant ceteri
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