Economy, asked by luinaier76, 8 months ago

definite equilibrium price

Answers

Answered by StrangeStark

14

Answer:

ᴛʜᴇ ᴘᴏɪɴᴛ ᴡʜᴇʀᴇ ᴛʜᴇ ᴅᴇᴍᴀɴᴅ ᴀɴᴅ sᴜᴘᴘʟʏ ᴄᴜʀᴠᴇ ᴄʀᴏss ɪs ᴄᴀʟʟᴇᴅ ᴛʜᴇ ᴇǫᴜɪʟɪʙʀɪᴜᴍ ᴘᴏɪɴᴛ (ǫ∗,ᴘ∗). sᴜᴘᴘᴏsᴇ ᴛʜᴀᴛ ᴛʜᴇ ᴘʀɪᴄᴇ ɪs sᴇᴛ ᴀᴛ ᴛʜᴇ ᴇǫᴜɪʟɪʙʀɪᴜᴍ ᴘʀɪᴄᴇ, sᴏ ᴛʜᴀᴛ ᴛʜᴇ ǫᴜᴀɴᴛɪᴛʏ ᴅᴇᴍᴀɴᴅᴇᴅ ᴇǫᴜᴀʟs ᴛʜᴇ ǫᴜᴀɴᴛɪᴛʏ sᴜᴘᴘʟɪᴇᴅ. ... ᴛʜɪs ɪs ᴛʜᴇ ᴅɪғғᴇʀᴇɴᴄᴇ ɪɴ ᴘʀɪᴄᴇ, sᴜᴍᴍᴇᴅ ᴜᴘ ᴏᴠᴇʀ ᴀʟʟ ᴛʜᴇ ᴘʀᴏᴅᴜᴄᴇʀs ᴡʜᴏ ʀᴇᴄᴇɪᴠᴇᴅ ᴍᴏʀᴇ ᴛʜᴀɴ ᴛʜᴇʏ ᴇxᴘᴇᴄᴛᴇᴅ ᴛᴏ.

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