Answered step by step
Verified Expert Solution
Question
1 Approved Answer
respond to this discussion The demand is how much people want the product at hand like if a lot of people want it or not
respond to this discussion The demand is how much people want the product at hand like if a lot of people want it or not a lot of people and in correlation with demand is the supply and that is how much of the product is available and those two go hand in hand and when they perfectly meet is it called the market equilibrium and that is when the demand meets the supply and both parties are happy witht he price and there is not a shortage of supply or a surplus and there is not a shortage or surplus of demand either just a perfect equalibrium. What products do you know that have a market equilibrium if any
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started