General equilibrium/Definition: Difference between revisions
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A hypothetical state of a set of inter-related markets such that there is no excess supply nor excess demand in any market (see [[Supply and demand#Equilibrium and disequilibrium|Equilibrium and disequilibrium]]). | |||
Latest revision as of 00:50, 7 February 2010
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General equilibrium [r]: A hypothetical state of a set of inter-related markets such that there is no excess supply nor excess demand in any market (see Equilibrium and disequilibrium).