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Current Step1 of 13
1
Domestic Equilibrium
In a closed economy with no trade, the market equilibrium occurs where supply S₀ equals demand D₀, at price P* and quantity Q*.
Current Step1 of 13
1
Domestic Equilibrium
In a closed economy with no trade, the market equilibrium occurs where supply S₀ equals demand D₀, at price P* and quantity Q*.