Free to adjust based on the forces of supply and demand

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Suppose the market for pizzas is unregulated. That is, pizza prices are free to adjust based on the forces of supply and demand. If a surplus exists in the pizza market, then the current price must be _________ (higher or lower?) than the equilibrium price. For the market to reach equilibrium, you would expect________(sellers to offer lower prices, or buyers to offer higher prices, or persistent excess supply?)

Reference no: EM131239843

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