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Explain how the price system eliminates a surplus.
The meaning of surplus is that quantity demanded is less as compared to the quantity supplied. This will lead to downward pressure on price. Since price falls, quantity demanded rises and quantity supplied falls. This will carry on until quantity demanded is equal to quantity supplied.
I have some Microeconomics problem need to be solve, three Long question and 10 multiple-choice. If I give you four hours can you finish.
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Cost Sharing in Higher Education - Increasing the Fees A commonly suggested cost recovery method is to increase the fees charged for the courses in higher education. The share
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