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From 12th grade Economics, I can say that that point is called equilibrium. that is the point where both supply and demand's needs are met. If the point is above the supply and demand lines, It is inefficient and is only reached through new breakthroughs like technology, more workers, etc... and if the point is below where both lines meet, resources are being used inefficiently. Economics is the study of allocating scarce resources, after all.
What else can I help you with?
What does the equillibrium point on a supply and demand graph represent?
which is true about the functional relationship shown in the graph
Supply and demand graph curve of hybrid cars?
supply and demand curve for hybrid vehicles
What is a visual with vertical and horizontal lines to plot supply and demand?
Graph
Elasticity of Demand and Supply with graph?
buang ka
A graph example of supply increase without changes in demand?
If a seller increase supply without changes in demand, his business will not last. He will have more supply than demand.
What does the equillibrium point on a supply and demand graph represent?
which is true about the functional relationship shown in the graph
Supply and demand graph curve of hybrid cars?
supply and demand curve for hybrid vehicles
What is a visual with vertical and horizontal lines to plot supply and demand?
Graph
Elasticity of Demand and Supply with graph?
buang ka
A graph example of supply increase without changes in demand?
If a seller increase supply without changes in demand, his business will not last. He will have more supply than demand.
Why demand curve slops downward from left to right?
The demand / supply graph is designed to have supply on the vertical axis (Y) and demand on the horizontal (X). Thus you will have a higher supply = lower demand, or lower supply = high demand.
What relationship does the money supply and money demand graph illustrate in the context of the economy?
The money supply and money demand graph illustrates the relationship between the amount of money available in the economy (money supply) and the desire of individuals and businesses to hold onto money (money demand). This graph helps to show how changes in the money supply and demand can impact interest rates and overall economic activity.
What factors contribute to the fluctuations in the high demand low supply graph?
Fluctuations in the high demand low supply graph are influenced by factors such as changes in consumer preferences, shifts in production costs, disruptions in supply chains, government regulations, and external events like natural disasters or economic crises. These factors can cause the supply and demand balance to shift, leading to fluctuations in the graph.
How can one identify excess demand on a graph?
Excess demand on a graph can be identified where the quantity demanded is greater than the quantity supplied, resulting in a shortage. This is shown by a point above the equilibrium price on the supply and demand graph.
How does consumer surplus change on a supply and demand graph when there is an increase in demand for a product?
When there is an increase in demand for a product on a supply and demand graph, consumer surplus typically decreases. This is because as demand rises, prices tend to increase, leading consumers to pay more for the product and reducing the surplus they gain from purchasing it.
What factors can lead to an excess supply of goods or services as shown on a supply and demand graph?
An excess supply of goods or services on a supply and demand graph can be caused by factors such as overproduction, decreased consumer demand, or changes in market conditions that result in more products being available than consumers are willing to buy at a given price.
According to the graph in this market a price of 1.50 would be .?
Without access to the specific graph you're referring to, I cannot provide an accurate analysis of the price of 1.50 in that market. Generally, if the graph illustrates supply and demand, a price of 1.50 could indicate either excess supply (surplus) or excess demand (shortage), depending on the intersection of the supply and demand curves at that price point. Further context from the graph would be needed to give a precise interpretation.
