Intersection of demand and supply curves
What determines the intersection of demand and supply curves?
Expert
The intersection of supply and demand curves determines the market equilibrium. At equilibrium price, the quantity demanded equivalent to the quantity supplied.
The change within a firm’s dollar receipts from sales when this produces and sells one additional unit of output is termed as: (w) price. (x) marginal revenue. (y) average revenue. (z) contribution to overhead. Can anybody su
When a previously competitive industry becomes monopolized along with no consequence on market demand or the structure of production costs, the effect will be: (w) higher prices and greater output. (x) lower prices and greater output.
Persistent shortages of a good are mostly all the time attributable to: (w) legal ceiling prices that are set below equilibrium. (x) recessions that yield high unemployment rates. (y) price gouging by firms with monopoly power. (z) legal price floors
Sarah, Courtney, Carly and Lisa sell shell necklaces. As Lisa lowers her price, Carly, Sarah as well as Courtney lower their price. If Lisa raises her price, Carly, Courtney and Sarah remain their price similar. This interaction is an
I have a problem in economics on Examples of perishable goods. Please help me in the following question. Illustrations of perishable goods comprise: (1) The book Carrie reads each and every night before brushing her teeth. (2) The computer Barry emplo
Lowered interest rates since households have determined to save more tend to: (1) give incentives for financial investors to switch by stock to bonds. (2) reduce the optimal level of economic investment. (3) discourage investments in new residential c
Can the charting of past prices be used to predict future prices?
Describe firm’s supply curve in short run, operating in perfect competition? Answer: It is a MC curve of the firm beginning from a point where MC = AVC (that is, minimum).
Techniques of how to produce?: Broadly, there are two main methods of production. (i) Labour intensive Technique: Under this method, production depends mostly on the
The income effect of a price rise for the normal good: (i) Needs a reduction in the purchasing power of your income, that helps in elucidating why demand curves are negatively sloped. (ii) Forces faster adjustments than when the good was inferior and
18,76,764
1941952 Asked
3,689
Active Tutors
1448216
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!