noun
COLLOCATIONS FROM CORPUS
■ ADJECTIVE
competitive
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Since no Pareto gain is possible, the initial position - competitive equilibrium in both markets - is Pareto-efficient.
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First, they ensure that the initial position of competitive equilibrium is indeed an equilibrium.
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But in competitive equilibrium prices are performing a second role.
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We have now discovered that a competitive equilibrium in all markets would generate one particular Pareto-efficient allocation.
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For a competitive equilibrium , this line must be tangent to the individual's indifference curve.
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Perfectly competitive free market equilibrium will then allocate resources efficiently.
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But there are many more allocations that are inefficient. 5 Under strict conditions, competitive equilibrium is Pareto-efficient.
dynamic
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The two phases are in dynamic equilibrium when the rate of evaporation equals the rate of condensation.
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The elements it cradles are in a dynamic equilibrium with the cycling composition of the atmosphere and water and biosphere.
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A saturated solution is in dynamic equilibrium with undissolved solute.
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The organisation, like a living organism, maintains a dynamic equilibrium with the environment.
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A dynamic equilibrium exists when two reversible or opposite processes are balanced.
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Eventually a dynamic equilibrium is established.
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The healthy, well-adapted individual keeps them in balance in a dynamic equilibrium .
free
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Perfectly competitive free market equilibrium will then allocate resources efficiently.
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Imperfectly competitive industries are a source of market failure because free market equilibrium is no longer Pareto-efficient.
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Like externalities, they induce market failure. Free market equilibrium will not generally be efficient.
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Equilibrium will be inefficient. 7 Distortions occur whenever free market equilibrium does not equate marginal social cost and marginal social benefit.
general
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In effect, they involve a comparison of the general equilibrium of the economy with and without the government budget.
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Integrating transport costs into a general equilibrium trade model is a messy affair even with constant returns and perfect competition.
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Hemler and Longstaff derived a number of empirical predictions of their general equilibrium model that differ from those of the no-arbitrage model.
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This is called the point of general equilibrium .
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Figure 4 illustrates that the general equilibrium we have just derived is indeed a stable one.
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This is the upshot of a more general principle of general equilibrium theory known as Walras's Law.
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Their empirical results largely supported the predictions of the general equilibrium model, rather than those of the no-arbitrage model.
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The stability of the general equilibrium .
hydrostatic
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The calculated value is less than the upper limit from Mariner 10, indicating that Mercury is close to hydrostatic equilibrium .
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To attain hydrostatic equilibrium the position of the lithosphere adjusts vertically in accordance with its density and thickness.
new
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Suppose that the new equilibrium were at P'.
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How then would the new equilibrium be achieved?
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Assuming the new equilibrium price is instantly established, they derived an expression for the change in price between transactions.
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The neo-classical analysis can be justified only if the new equilibrium positions are reached quickly.
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Transactors will have to search for the new equilibrium values themselves.
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In this case the new equilibrium point would be E 2.
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There were three main aspects to Bukharin's ideas on the transition period leading to a new socialist equilibrium: 1.
partial
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This account has so far been in partial equilibrium terms.
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Partial Equilibrium Analysis Let us first return to the partial equilibrium model of section 5.
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Originally presented in terms of partial equilibrium analysis, it has been extended in two principal directions.
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In this case the home country exports good 1, just as in the partial equilibrium model discussed in the previous section.
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In other words, we may continue with a partial equilibrium framework.
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From the standpoint of the partial equilibrium analysis of the employment impact, the role of foreign trade emerged as especially important.
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The implications for less partial equilibrium behaviour are less clear.
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As the partial equilibrium analysis suggested, a procompetitive effect, with monopolistic industries expanding, is expected from trade.
temporary
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The relationship between these three important variables is supposed to determine the characteristics of a state of temporary equilibrium .
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Hegemony evolves in an extensive but temporary form, equilibrium is only relative.
■ NOUN
analysis
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Originally presented in terms of partial equilibrium analysis , it has been extended in two principal directions.
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From the standpoint of the partial equilibrium analysis of the employment impact, the role of foreign trade emerged as especially important.
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As the partial equilibrium analysis suggested, a procompetitive effect, with monopolistic industries expanding, is expected from trade.
condition
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And this defines the theoretical equilibrium conditions .
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Using the equilibrium condition Q, Qi solve the equations to determine equilibrium price.
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The equation for equilibrium conditions is, in reality, a combination of these two dis-equilibrium conditions.
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Knowledge consists of the overall state of the network at some equilibrium condition after it has responded to the input patterns.
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It remains to specify the equilibrium conditions in commodity markets.
level
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Determination of the equilibrium level of income.
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Competitive bidding by buyers will push the price up toward the equilibrium level .
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In this case, the equilibrium level of income is unaffected by the increase in the real value of the money supply.
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If any of these should change, there will be an effect on the equilibrium level of income.
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As a consequence the equilibrium level of aggregate demand will fall.
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Thus a rise in the price level leads to a fall in the equilibrium level of aggregate demand.
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A rise in government expenditure adds directly to aggregate spending and hence will tend to increase the equilibrium level of aggregate demand.
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The equilibrium levels of income and employment were believed to be determined largely in the labour market.
market
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Free market equilibrium leads to too few improvements.
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As the interest rate rises, the speculative demand for money falls and money market equilibrium is eventually restored.
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Free market equilibrium occurs at E. A government agency now provides information about the product.
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Perfectly competitive free market equilibrium will then allocate resources efficiently.
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Imperfectly competitive industries are a source of market failure because free market equilibrium is no longer Pareto-efficient.
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Free market equilibrium will not generally be efficient.
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Free market equilibrium will not equate marginal cost and marginal benefit and there will be scope for Pareto gains.
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Equilibrium will be inefficient. 7 Distortions occur whenever free market equilibrium does not equate marginal social cost and marginal social benefit.
model
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Hemler and Longstaff derived a number of empirical predictions of their general equilibrium model that differ from those of the no-arbitrage model.
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Partial Equilibrium Analysis Let us first return to the partial equilibrium model of section 5.
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Their empirical results largely supported the predictions of the general equilibrium model , rather than those of the no-arbitrage model.
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In this case the home country exports good 1, just as in the partial equilibrium model discussed in the previous section.
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On the contrary, as we noted earlier, his equilibrium model is a mobile one.
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Within the confines of an equilibrium model , the specification of the savings function needs careful consideration.
path
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On an equilibrium path it is assumed that both capital and labour are fully employed.
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The changes over time in capital and labour then govern the equilibrium path followed.
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The question we now have to ask is whether the equilibrium path converges to a steady state.
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In this sense the steady state may be a poor approximation, and we should study the full equilibrium path .
point
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This is the point known as the equilibrium point.
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Graphically, the intersection of the supply curve and the demand curve for the product will indicate the equilibrium point .
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Figure 15-3 shows that at the equilibrium point E the marginal utility of the last film equals its marginal cost.
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A basic economic assumption in a market economy is the continual adjustment of supply and demand toward an equilibrium point .
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At the equilibrium point the real wage is and is the quantity of labour employed generating, of real output.
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Find the equilibrium point that balances the weights of the political resources mobilized by each group. 5.
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In this case the new equilibrium point would be E 2.
position
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This line intersects the characteristic about 2 degrees from the equilibrium position , so 8, - 2 degrees -0.035 radians.
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The motor velocity increases under the influence of the positive torque and the equilibrium position is attained with maximum velocity.
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Once again for two-phases-on there is a shift in the equilibrium positions , which can be confirmed analytically.
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Eventually, with r rising and g falling, r would exceed g, which is the only sustainable long-run equilibrium position .
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Consider a fluid particle that is displaced upwards, say, from its equilibrium position .
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This angle accounts for the lag of the rotor behind the phase equilibrium position as the load on the motor increases.
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The neo-classical view is that a perfectly competitive economy always tends towards its full employment equilibrium position .
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The upper graph shows the economy's initial general equilibrium position in the real and monetary sectors.
price
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But in competitive equilibrium prices are performing a second role.
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We can predict an increase in equilibrium price greater than that caused by either change taken separately.
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If marginal costs are non-constant then no equilibrium price exists unless outputs are non-homogeneous, i.e. there is product differentiation.
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There is a positive or direct relationship between a change in demand and the resulting changes in equilibrium price and quantity.
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Different patterns of demand imply different demand curves for individual goods and services and determine different equilibrium prices and quantities.
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Any price below the equilibrium price will entail a shortage; that is, quantity demanded will exceed quantity supplied.
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Taxes usually alter equilibrium prices and quantities and these induced effects must also be taken into account.
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What is the effect upon equilibrium price ?
quantity
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The equilibrium quantity remains the socially efficient quantity.
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The effect upon equilibrium quantity is again indeterminate, depending upon the relative size of the changes in supply and demand.
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At the equilibrium quantity Q the marginal consumer benefit is P l but the marginal social cost is P 2.
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This means that equilibrium quantity will increase by an amount greater than that which either change would have entailed in isolation.
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Hence the equilibrium quantity Q is socially inefficient.
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At $ 3, quantity supplied and quantity demanded are in balance; that is, equilibrium quantity is 7000 bushels.
rate
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With a given money supply, an increase in the demand for money will also raise the equilibrium rate of interest.
strategy
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Both Nash reversion and Abreu's simple penal codes are subgame perfect equilibrium strategies and so satisfy this criterion of credibility.
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The equilibrium strategy for all types of player A is described in this Proposition.
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The sequential equilibrium strategy of the long-term agent has a particularly simple form in this model.
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In general the past history of shocks will have effects on the equilibrium strategy in such a game.
value
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In Fig. 10-1 this yields a decrease in the equilibrium value of income from to.
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The large 1-s spin period is close to its equilibrium value , suggesting Eddington-limited accretion at some time in the near past.
■ VERB
achieve
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It is almost impossible for the understudy to achieve mental equilibrium .
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Or would the rate of sinking slow down and stop as the raft achieved equilibrium ?
determine
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What determines the equilibrium between phases?
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Using the equilibrium condition Q, Qi solve the equations to determine equilibrium price.
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It is the debate about the forces which determine this equilibrium which fundamentally separates the various schools of thought in macroeconomics.
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Different patterns of demand imply different demand curves for individual goods and services and determine different equilibrium prices and quantities.
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The simultaneous interaction of the membership demand curve and the wage demand curve determines equilibrium wages, membership, and employment.
establish
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Secondly, through the use of techniques of Markov chain analysis, the equilibrium state of the system can be established .
maintain
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Hence, we postulated that adaptive cytoprotection maintains a physiological equilibrium between duodenal mucosal resistance and luminal acidity.
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The second is to gain the knowledge and experience to maintain humans within equilibrium in a closed ecological system.
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When successful the individual is able to maintain an equilibrium .
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Penelope reached for it hurriedly, needing its sustenance to maintain her equilibrium .
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This is a severe shock to your fish and certainly not a way to maintain equilibrium .
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The organisation, like a living organism, maintains a dynamic equilibrium with the environment.
punctuate
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They explore mechanisms of nature through concepts including the butterfly effect, Gaia, attractors and punctuated equilibrium .
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Periods of punctuated equilibrium are periods of extended uncertainty.
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In periods of punctuated equilibrium , ideologies and technologies, new and old, do not match.
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A period of punctuated equilibrium comes into existence.
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Levels of uncertainty escalate enormously in periods of punctuated equilibrium .
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Periods of punctuated equilibrium offer many new, as yet unexplored territories.
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Periods of punctuated equilibrium are equally visible in human history.
reach
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It must have reached thermodynamic equilibrium over the years, and represents the most stable state for this composition.
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Some parents reach this state of equilibrium within a few weeks after the birth, whereas others take many months.
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The main disadvantage of the method lies in the long periods of time required to reach equilibrium .
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General unemployment is the most conspicuous outcome of this failure to reach a Walrasian equilibrium .
restore
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Where it is seen by work colleagues to be getting out of kilter, informal controls can be used to restore equilibrium .
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Tearing her eyes away from Emilio's face, Anne led the chorus of praise, restoring a fragile equilibrium .
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As core temperature starts to fall, self-regulating mechanisms start to restore equilibrium .
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A quick survey of the distant marquees did nothing to restore her equilibrium .
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He prayed to Rogal Dorn to restore his equilibrium .
EXAMPLES FROM OTHER ENTRIES
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The operation of the free market maintains an equilibrium between supply, demand and price.
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The shock of Freddie's death had upset her equilibrium .
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The temperature at which the solid and liquid are in equilibrium is called the freezing point.
EXAMPLES FROM CORPUS
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And, indeed, his theory is firmly rooted in his conception of equilibrium .
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Autarky equilibrium in Home is illustrated by figure 4.
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Given the assumptions of perfect mobility of factors and perfect information, this equilibrium should be consistent with zero unemployment.
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The path to the equilibrium in the game where is the mirror image of the example.
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This account has so far been in partial equilibrium terms.
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This, we recall from Chapter is the rationing function of equilibrium prices.
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Using the equilibrium condition Q, Qi solve the equations to determine equilibrium price.
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We can predict an increase in equilibrium price greater than that caused by either change taken separately.