Consider the market for portable air conditioners, initially in equilibrium. when a heat wave strikes, the equilibrium price:

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18-02-2017
Business

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Consider the market for portable air conditioners, initially in equilibrium. when a heat wave strikes, the equilibrium price:

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antonsandiego antonsandiego · Answer 1 · 2017-02-24T21:19:04+01:00

antonsandiego antonsandiego

24-02-2017

I suppose there should be an options to choose. Anyway, I've found these options and I think, that the answer is: when a heat wave strikes, the equilibrium price and quantity both increase. Equilibrium price is the price where the supply and demand are matched.

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