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When price is below equilibrium level, there will be
Surplus commodity in the market
Shortage of commodity in the market
Supply curve will shift
Demand curve will shift
When price is below equilibrium level, there will be Shortage of commodity in the market. Equilibrium means a state of rest or balance due to the equal action of opposing forces. equal balance between any powers, influences, etc.; equality of effect. mental or emotional balance; equanimity.
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