Market Period:

Market period is the period through which the capability of the firms to affect any modifications in supply in response to any modification in demand is tremendously limited or almost nil. Therefore supply is more or less fixed in the market period without any modifications. Though, the demand might vary during this period.

 Figure: Market Period 

The equilibrium price will be found out according to the modifications in demand, provided the fixed supply. The figure shown above describes the equilibrium price in market period.

Since the supply is fixed in market period, it is illustrated as a vertical line SMP. It is also termed as inelastic supply curve. Whenever demand rises from DD to D₁D₁, price rises from P to P₁. Likewise, a fall in demand from DD to D₂ D₂  pulls the price drop from P to P₂. The market for perishables can be a good example. The demand for plantain fruits rises during the festival season; therefore the prices will naturally go up as the supply can’t be raised instantly to meet the demand. Therefore, demand determines the equilibrium price in the market period.

Latest technology based Economics Online Tutoring Assistance

Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Equilibrium Price help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Equilibrium Price, project ideas and tutorials. We provide email based Equilibrium Price help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Equilibrium Price. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics Homework help and assignment help services. They use their experience, as they have solved thousands of Economics assignments, which may help you to solve your complex issues of Equilibrium Price. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.