if the market price is below its equilibrium level, the quantity demanded at that price exceeds the quantity supplied, and we have excess [...].
Answer
demand
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Open it if the market price is below its equilibrium level, the quantity demanded at that price exceeds the quantity supplied, and we have excess demand.
Original toplevel document (pdf)
owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p15
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