Answered: Explain how a freely operating market…

Explain how a freely operating market could eliminate shortages and surpluses.(Go through the steps in the process). What role do prices play in this process?

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section: Chapter Questions

Problem 23QP

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Explain how a freely operating market could eliminate shortages and surpluses.(Go through the steps in the process). What role do prices play in this process?

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