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What are needed to determine the equilibrium price of a good or service?
Consumers have inelastic demand
What is shown by the intersection of supply curve and the demand curve?
the equilibrium price of a good or service
What is needed to determine equilibrium price of a good or a service?
a supply curve and a demand curveA supply curve and a demand curve.
Shown by the intersection of the supply curve and the demand curve?
the equilibrium price of a good or service
Which of the following is shown by the intersection of the supply curve and the demand curve?
the equilibrium price of a good or service
What are needed to determine the equilibrium price of a good or service?
Consumers have inelastic demand
What is shown by the intersection of supply curve and the demand curve?
the equilibrium price of a good or service
What is needed to determine equilibrium price of a good or a service?
a supply curve and a demand curveA supply curve and a demand curve.
What is shown by the intersection of the supply and the demand curve?
the equilibrium price of a good or service
What is the intersection of the supply curve and the demand curve?
the equilibrium price of a good or service
Shown by the intersection of the supply curve and the demand curve?
the equilibrium price of a good or service
Which of the following is shown by the intersection of the supply curve and the demand curve?
the equilibrium price of a good or service
What is the amount of a good or service needed?
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What price when demand is zero?
If demand is zero, then the equilibrium price is zero and it would be unwise to supply such a good or service.
What is needed to determine the equilibrium price of a good or services?
a supply curve and a demand curveA supply curve and a demand curve.
Which most accurately describes how the equilibrium price of a good or a service can be determined?
By finding where the supply curve and the demand curve intersect.
A shortage will develop when?
The market price is below the equilibrium price.
