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18 July, 12:32

If equilibrium exists:a) the number of buyers will equal the number of sellers. b) the price in that market will not fluctuate by more than 5%. c) all individuals must have an equal amount of income. d) there will be no remaining opportunities for individuals to make themselves better off.

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  1. 18 July, 14:41
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    At equilibrium market demand = market supply and there is no pareto improvement over the equilibrium. Pareto improvement is where somebody can be improved off without intensifying other.

    At equilibrium, total number of quantities that purchaser needs are equivalent to amounts which a providers needs to sell at a given cost

    It does not implies all people will have same pay and market cost can vary by over 5% if request or supply changes
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