Please thoroughly and completely explain what market-clearing equilibrium means. Don’t just copy stuff, explain what this really means. Please be thorough. 2. Thoroughly and in detail, explain what happens when a price is above the equilibrium price, and why those things happen!!! Detail! 3. Thoroughly and in detail, explain what happens when a price is below the equilibrium price, and why those things happen!!! Detail! 4. Thoroughly and completely explain the two government intervention cases, price floors and price ceilings and give examples of each.

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