Problem on Equilibrium price
What happens to equilibrium price if increase in demand is equivalent to increase in supply? Answer: In case of equivalent increase in demand and supply the equilibrium price stays unchanged however the equilibrium quantity increases.
What happens to equilibrium price if increase in demand is equivalent to increase in supply?
Answer: In case of equivalent increase in demand and supply the equilibrium price stays unchanged however the equilibrium quantity increases.
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High economic profits for firms are least probable to arise by: (1) important market power. (2) “cut-throat” competitive pricing policies. (3) superior products. (4) unusually efficient managers. (5) price-maker behavior. Discover Q & A Leading Solution Library Avail More Than 1455655 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1956348 Asked 3,689 Active Tutors 1455655 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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