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Price, time, and quantity are fundamental concepts in economics and trading. Price refers to the amount of money required to purchase a good or service, time indicates the duration or timeframe in which transactions occur or goods are delivered, and quantity represents the amount of goods or services involved in a transaction. Together, these elements help determine market dynamics, influencing supply and demand, and ultimately shaping consumer behavior and business strategies.
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How do you find equilibrium quantity and price?
Quantity and price are proportional .as the price increases ,quantity is increases .as quantity is less and cheap then the market price fell down..example are cellphone ,electronics items etc.
If the price is less than the equilibrium price what is the relatiionship of quantity supplied to quantity demanded?
If the price is low, suppliers may well not wish to supply the full quantity that is demanded by consumers.The quantity demanded and quantity supplied determines the equilibrium price in the market. The quantity where these two are equal, that is where the market price is set.
How would it be possible to observe a decrease in both the equilibrium price and quantity in the market at the same time?
A fall in demand will result in the decrease of both equilibrium price and quantity. A fall in demand( a leftward shift in the demand curve) will result in the decrease of both equilibrium price and quantity.
A decrease in demand will have what effect on equilibrium price and quantity?
There will be a decrease in price and quantity.
What is the price called at which the quantity demanded is equal to the quantity supplied?
equilibrium price
How do you find equilibrium quantity and price?
Quantity and price are proportional .as the price increases ,quantity is increases .as quantity is less and cheap then the market price fell down..example are cellphone ,electronics items etc.
If the price is less than the equilibrium price what is the relatiionship of quantity supplied to quantity demanded?
If the price is low, suppliers may well not wish to supply the full quantity that is demanded by consumers.The quantity demanded and quantity supplied determines the equilibrium price in the market. The quantity where these two are equal, that is where the market price is set.
How would it be possible to observe a decrease in both the equilibrium price and quantity in the market at the same time?
A fall in demand will result in the decrease of both equilibrium price and quantity. A fall in demand( a leftward shift in the demand curve) will result in the decrease of both equilibrium price and quantity.
At equilibrium price the quantity is demanded always equal to the quantity supplied?
Yes, the equilibrium price equates the quantity supplied to the quantity demanded.
A decrease in demand will have what effect on equilibrium price and quantity?
There will be a decrease in price and quantity.
What is the price called at which the quantity demanded is equal to the quantity supplied?
equilibrium price
When quantity demanded is greater than quantity supplied the price will?
the price increase
What equilibrium price and equilibrium quantity?
equilibrium price and equilibrium quantity?: equilibrium price: When the price is above the equilibrium point there is a surplus of supply The market price at which the supply of an item equals the quantity demanded Price at which the quantity of goods producers wish to supply matches the quantity demanders want to purchase sa madaling salita supply=demand=price equilibrium quantity: Amount of goods or services sold at the equilibrium price The quantity demanded or supplied at the equilibrium price. supply=demand ayos?
Economics what is the arc elastic?
measure of the average responsiveness of quantity to price over an interval of the demand curve. = change in quantity/ Quantity ___________________________ change in price/ Price
The quantity of a product that will be produced and sold at a specific price is the?
The quantity supplied is the quantity of a product that is produced and sold at a specific price.
What is market clearing price?
Market clearing price is the price at which the quantity demanded of a product equals the quantity supplied.
When Quantity demanded is dependent on price then why independent variable price is on y axis in graph?
price is dependent or independent?quantity
