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- Excess_demand_function abstract "In microeconomics, an excess demand function is a function expressing excess demand for a product—the excess of quantity demanded over quantity supplied—in terms of the product's price and possibly other determinants. It is the product's demand function minus its supply function. In a pure exchange economy, the excess demand is the sum of all agents' demands minus the sum of all agents' initial endowments. A product's excess supply function is the negative of the excess demand function—it is the product's supply function minus its demand function. In most cases the first derivative of excess demand with respect to price is negative, meaning that a higher price leads to lower excess demand.The price of the product is said to be the equilibrium price if it is such that the value of the excess demand function is zero: that is, when the market is in equilibrium, meaning that the quantity supplied equals the quantity demanded. In this situation it is said that the market clears. If the price is higher than the equilbrium price, excess demand will normally be negative, meaning that there is a surplus (positive excess supply) of the product, and not all of it being offered to the marketplace is being sold. If the price is lower than the equilbrium price, excess demand will normally be positive, meaning that there is a shortage.Walras' law implies that, for every price vector, the total price of the excess demand in 0, whether or not the economy is in a general equilibrium. This implies that if there is excess demand for one commodity, there must be excess supply for another commodity.".
- Excess_demand_function wikiPageID "40223685".
- Excess_demand_function wikiPageLength "5152".
- Excess_demand_function wikiPageOutDegree "22".
- Excess_demand_function wikiPageRevisionID "693436455".
- Excess_demand_function wikiPageWikiLink Category:Microeconomics.
- Excess_demand_function wikiPageWikiLink Demand_curve.
- Excess_demand_function wikiPageWikiLink Derivative.
- Excess_demand_function wikiPageWikiLink Differential_equation.
- Excess_demand_function wikiPageWikiLink Discrete_time_and_continuous_time.
- Excess_demand_function wikiPageWikiLink Economic_equilibrium.
- Excess_demand_function wikiPageWikiLink Excess_supply.
- Excess_demand_function wikiPageWikiLink Exchange_economy.
- Excess_demand_function wikiPageWikiLink Market_clearing.
- Excess_demand_function wikiPageWikiLink Microeconomics.
- Excess_demand_function wikiPageWikiLink Nominal_rigidity.
- Excess_demand_function wikiPageWikiLink Price.
- Excess_demand_function wikiPageWikiLink Recurrence_relation.
- Excess_demand_function wikiPageWikiLink Shortage.
- Excess_demand_function wikiPageWikiLink Sonnenschein–Mantel–Debreu_theorem.
- Excess_demand_function wikiPageWikiLink Stability_theory.
- Excess_demand_function wikiPageWikiLink Supply_(economics).
- Excess_demand_function wikiPageWikiLink Walras_law.
- Excess_demand_function wikiPageWikiLink Walrasian_auction.
- Excess_demand_function wikiPageWikiLinkText "Excess demand function".
- Excess_demand_function wikiPageWikiLinkText "excess demand function".
- Excess_demand_function wikiPageUsesTemplate Template:Reflist.
- Excess_demand_function subject Category:Microeconomics.
- Excess_demand_function hypernym Function.
- Excess_demand_function type Disease.
- Excess_demand_function comment "In microeconomics, an excess demand function is a function expressing excess demand for a product—the excess of quantity demanded over quantity supplied—in terms of the product's price and possibly other determinants. It is the product's demand function minus its supply function. In a pure exchange economy, the excess demand is the sum of all agents' demands minus the sum of all agents' initial endowments.".
- Excess_demand_function label "Excess demand function".
- Excess_demand_function sameAs Q15303685.
- Excess_demand_function sameAs Überschussnachfragefunktion.
- Excess_demand_function sameAs m.0wxx4y4.
- Excess_demand_function sameAs Q15303685.
- Excess_demand_function wasDerivedFrom Excess_demand_function?oldid=693436455.
- Excess_demand_function isPrimaryTopicOf Excess_demand_function.