Download Equilibrium price

Survey
yes no Was this document useful for you?
   Thank you for your participation!

* Your assessment is very important for improving the work of artificial intelligence, which forms the content of this project

Document related concepts

General equilibrium theory wikipedia , lookup

Perfect competition wikipedia , lookup

Economic equilibrium wikipedia , lookup

Supply and demand wikipedia , lookup

Transcript
The Supply and Demand Graph
• Where the 2 lines intersect is the price
the good will be sold at.
At $45 a consumer is
willing to buy (demands)
2 pairs, and the
producer is willing to
supply 2 pairs of
sneakers.
Supply
Price
$100
$45
Why wouldn’t a producer
sell the sneaker for
$100?
Demand
2.
Why wouldn’t a producer
sell the sneaker for $10?
1.
$10
1
2
Quantity
3