What is Supply?... Continued
c) Forces of Supply and Demand (Shortage)
When the supply curve and demand curve are again overlapped on each other, they again reveal either a disequilibrium or equilibrium. However, in this case in fig. 7 on the left reveals a shortage disequilibrium. For example; At P = 10, A shortage of 60 results (or 10-70) With a shortage, consumers outbid each other pushing prices up towards equilibrium.
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