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Economics 2.4 Price - Coggle Diagram

- - - - In this graph, p* is equilibrium, if the low price of p1 is set by producers then more consumers will be willing to purchase the product (demand more) than suppliers are willing to supply at that level.
    - - In this graph, p* is equilibrium, if the high price of p2 is set by producers, consumers will not be willing and able to purchase the product (demand less) than suppliers are willing to supply at that level.