Equilibrium of a market
How can Equilibrium of a market be exist?
Expert
Equilibrium of a market:
It is the point at which the quantity demanded is equivalent to the quantity supplied. When the price is above the equilibrium price, sellers desire to sell more than buyers desire to purchase, therefore there is a surplus. Sellers try to raise their sales by cutting the prices. That carries on till they reach equilibrium price. When the price is beneath the equilibrium price, buyers wish for to purchase more than sellers want to sell, therefore there is a scarcity. Sellers can increase their price devoid of losing customers. That carries on till they reach equilibrium price.
Diminishing prices will raise total revenue from DVD game sales at each and every price: (1) On this demand curve. (2) Beneath $25. (3) Above $25. (4) Beneath $30. Q : Microeconomics is studying economic is studying economic worth your time and effort
is studying economic worth your time and effort
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