The irrational rules governing the process prevent it from producing the market equilibrium price.

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In each case there is an equilibrium price the stock will return to, as if stock prices have memories.

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As lower costs encourage firms to produce more at any given price (ie, the supply curve shifts from S1 to S2 in the chart), the long-term equilibrium level of output will rise and the price level will fall.

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In Chile a fiscal law obliges the government to run budget surpluses whenever the economy is at full employment and the copper price is above its long-run equilibrium, as estimated by an independent panel.

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In a well-functioning market, the price of property should bring demand and supply into equilibrium.

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It is 50 years since the price of Old Master and Modern pictures, at all levels of quality, was in rough equilibrium.

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