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When economist says price floors means above equilibrium and leads to undermanned surplus. When they say price ceilings it means price below equilibrium which leads to unsupplied shortage.
Dont u mean what is equilibrium?
A quantity that characterizes the position of equilibrium for a reversible reaction; its magnitude is equal to the mass action expression at equilibrium. K varies with temperature.
it is par day wage
If the demand shift to the right, the equilibrium price and quantity will shift from the initial equilibrium price and quantity to the next, i mean the equilibrium price and quantity will increase as compare to the first.
When economist says price floors means above equilibrium and leads to undermanned surplus. When they say price ceilings it means price below equilibrium which leads to unsupplied shortage.
When economists say that people act rationally in their self interest they mean that
Dont u mean what is equilibrium?
answer- longer than a year
A quantity that characterizes the position of equilibrium for a reversible reaction; its magnitude is equal to the mass action expression at equilibrium. K varies with temperature.
it is par day wage
Being in rational equilibrium means that an individual's beliefs and actions are consistent with their understanding of the world, taking into account their preferences and available information. It implies making decisions that are logical and coherent based on the individual's values and knowledge.
More information is needed to properly answer this question. The top 10 hardest firms in the world is too broad. Do you mean the hardest firms to get hired by, the hardest firms to work for, the hardest firms to sue?
It means that equilibrium may be attained at widely separated values.
when a system is in equilibrium it is stable and all its parts function smoothly
If the demand shift to the right, the equilibrium price and quantity will shift from the initial equilibrium price and quantity to the next, i mean the equilibrium price and quantity will increase as compare to the first.
Equilibrium means balance or level.