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What most accurately describes how the equilibrium price of a good or service?
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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.
Which of the following most accurately describes how the equilibrium price of a good or service can be determinedAsk us anything?
By finding where the supply curve and the demand curve intersect
What is shown by the intersection of supply curve and the demand curve?
the equilibrium price of a good or service
A shortage will develop when?
The market price is below the equilibrium price.
What are needed to determine the equilibrium price of a good or service?
Consumers have inelastic demand
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.
Which of the following most accurately describes how the equilibrium price of a good or service can be determinedAsk us anything?
By finding where the supply curve and the demand curve intersect
What is shown by the intersection of supply curve and the demand curve?
the equilibrium price of a good or service
A shortage will develop when?
The market price is below the equilibrium price.
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
What are needed to determine the equilibrium price of a good or service?
Consumers have inelastic demand
Which explanation accurately describes Adam Smith's concept of the natural price?
The price of any item that is equal to the costs of producing it
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.
Shown by the intersection of the supply curve and the demand curve?
the equilibrium price of a good or service
What accurately describes Adam Smiths concept of the natural price?
The price of any item that is equal to the costs of producing it.
Which of the following accurately describes how market capitalization is determined?
The number of shares is multiplied by the price of each share
