2nd Bac - Employment in the Market
The market supply and demand functions for a given good are: You are asked to: 1. Calculate the equilibrium price and quantity. 2. Explain what would happen if P = 170, and if P = 110. 3. Make the graphical representation of the two previous questions.Remembering that we must always indicate clearly: - The titles of the axes - Equilibrium price - Excess demand and excess supply - Legend - The scales must be well proportioned and have to be in relation to the data in the table. data in the table. https://www.youtube.com/watch?v=Srg5iAp68rw&ab_channel=InLecture The market It is a social institution where sellers and buyers interact. The plans of those who are going to sell are embodied in the SUPPLY curve, while the plans of those who are going to buy in the supply curve, while the plans of those who are going to buy in the demand curve. DEMAND curve. Supply and demand determine the price and quantity. Classification of markets The market is the economic scenario wh...
Comments
Post a Comment