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April 2, 2015

Homework Help: Economics

Posted by Anonymous on Friday, September 25, 2009 at 6:57am.

The market is considered to be _____ (black market/equilibrium/disequilibrium/non-competitive) if quantity demanded does not equal quantity supplied.

I'm not sure what the answer is... I narrowed it down to either disequilibrium or non-competitive. Disequilibrium because Qd =/= Qs. Non-competitive because if it's not in equilibrium, then that means the firms are not price takers in the market.

What is the right answer?

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