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18 July, 10:41

In 3 or 4 sentences, explain the relationship between the equilibrium price and efficiency.

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  1. 18 July, 13:08
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    When a market is in equilibrium, then that means that the economy is functioning efficiently. This happens because producers in many markets do not waste their resources. They can, instead, use these resources to produce based on the supply and demand laws which means that the economy is efficient.
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