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Which of the following explains what typically happens when a market is thrown into disequilibrium? 1. It remains in disequilibrium until the government intervenes. 2. It remains in disequilibrium

Which of the following explains what typically happens when a market is thrown into disequilibrium?
1. It remains in disequilibrium until the government intervenes.

2. It remains in disequilibrium until producers' marginal costs increase.

3. It moves toward a new equilibrium point as a result of the laws of supply and demand.

4. It quickly returns to the established price floor or ceiling.

Jun 01 2021 View more View Less

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