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(http://en.wikipedia.org/wiki/Supply_and_demand) At the prices above the equilibrium, there is excess supply while at prices below the equilibrium there is excess demand. (http://www.bized.ac.uk/stafsup/options/notes/econ207.htm) An example of prices above the equilibrium is when Goodlife was supplying more two-bedroom apartments than prospective tenants...
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(http://www.bized.ac.uk/stafsup/options/notes/econ207.htm) An example of prices above the equilibrium is when Goodlife was supplying more two-bedroom apartments than prospective tenants. Goodlife Management had a decrease in the rental rate of the apartments due to the decrease in the demand. An example of the price being below the equilibrium occurred when the demand of the two-bedroom apartments was more than the supply of the apartments...
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