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in this market, the equilibrium price is and equilibrium quantity is . rev: 03 07 2022 qc cs-298640 multiple choice $1.50 per gallon; 28 million gallons $1.50 per gallon; 30 million gallons $28 per gallon; 150 million gallons $1.00 per gallon; 36 million gallons

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In this market, the equilibrium price and equilibrium quantity are both. rev: 07/03/2022, QC, 298640 a gallon for $1.50

The balance between supply and demand determines an equilibrium price. Unless certain aspects of supply or demand alter, prices have a tendency to return to this equilibrium. When either supply or demand shifts or moves, or when both do so, the equilibrium price changes. When a product is in equilibrium quantity on the market, there is neither a shortage nor an excess. When supply and demand coincide, the equilibrium quantity of a good that customers desire to buy and the quantity that its suppliers are supplying are the same. By calculating (Qa - bP = x + yP), the demand and supply function may be solved.

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