Describe market as being in equilibrium

Assignment Help Business Economics
Reference no: EM131165632

What are we saying when we describe a market as being "in equilibrium"? Changes in market conditions will always trigger one of two disequilibrium conditions. Describe one of them, and tell how the market would react to this disequilibrium.

Reference no: EM131165632

Questions Cloud

Assume two-country world with two factors of production : Assume a two-country world with two factors of production (capital and labor) and two goods. In this context, state the Heckscher-Ohlin theorem. Then indicate the two definitions of relative factor abundance. In addition, spell out what is meant by t..
Only quantitative outcomes are relevant : Only quantitative outcomes are relevant in capital budgeting analyses. - Do you agree or disagree? - Explain.
Calculate the peds for the burbank-oakland : Explain why the fare reduction on the Kansas City-St Louis route may still be a profitable strategy for Southwest.
Respond the the written article with your opinion : Respond the the written article with your opinion and cited work. From my personal experience with five hundred people payroll, I can tell that a lot of organizations look into payroll record, and it is extremely important to keep accurate journal ..
Describe market as being in equilibrium : What are we saying when we describe a market as being "in equilibrium"? Changes in market conditions will always trigger one of two disequilibrium conditions. Describe one of them, and tell how the market would react to this disequilibrium.
What is the effect on total revenue : Suppose a monopolist faces the demand relationship shown in the table below. If the firm is currently selling four units per day and wants to sell five units, what is the effect on total revenue
How might achieve these objectives under ifrs : In order to achieve the same objective under US GAAP, would management have to structure the transaction in the same was as they would under IFRS?
Create a graph showing the price that levi''s changes : Levi's has an advertising slogan: "Quality never goes out of style." Consumers can buy other kinds of jeans, including off-brands. The manufacturers of off-brand, or generic, jeans do not advertise. Assume that the average total cost of producing ..
Create a simple household budget : Create a simple household budget, including all income and expenses. There are various templates available online to help you do this. Find one that you feel comfortable with and that fits your needs to complete this activity.

Reviews

Write a Review

 

Business Economics Questions & Answers

  What are some of the opportunity costs

Should the government build more shelters for the homeless? Where will it get the resources to do so? What are some of the opportunity costs?

  How can this be in production function

This production function does not satisfy the definition of rising returns to scale, constant returns to scale, or decreasing returns to scale. How can this be.

  Price and quantity with perfectly competitive markets

Assume that the Demand curve is given as Q=100-4P and the supply curve as P=10+4Q. What would be the price and quantity with perfectly competitive markets? What will happen to price and quantity if the government imposes a specific tax of $1 per unit..

  Evaluate rusals prediction by using the demand and supply

Evaluate Rusal's prediction by using the demand and supply equations to make a prediction about the movement of world aluminum price.

  How much gain or recaptured depreciation is there

A computer costs $9500 and its salvage value in 5 years is negligible. What is the book value after 3 years? If the machine is sold for $1500 in Year 5, how much gain or recaptured depreciation is there? Assume:

  Assume investment is low risk-no riskier than putting momey

How much are you willing to invest today to receive $150 a year for seven years and an additional $1,200 at the end of the seventh year? Assume this investment is low risk, that is, no riskier than putting money in a bank earning 2%.

  Compute the marginal rate of technical substitution

You are an efficiency expert hired by a manufacturing firm that uses K and E as inputs. The production function for a competitive firm is Q = K1/2 E1/2. The firm can hire labor at a wage of $15 per hour and rent capital at a rate of $60 per unit. Com..

  Performance and risk exposures in the market

Research Bank of America's performance and risk exposures in the market since 2008. What is its biggest strength? What is its biggest challenge? How does the B of A manage its risks and survive its crisis period?

  Marginal cost of pollution control

At this level of pollution, what is the marginal cost of pollution control.

  Draw the indifference curve and budget line

Joe subscribes to an Internet provider that charges $2 per hour. He has $100 per month to spend and is at equilibrium by buying 10 hours of Internet access and $80 worth of other goods. Draw the indifference curve and budget line. If the company swit..

  What is the market clearing bertrand price and quantity

Two firms compete in an undifferentiated Bertrand market. Suppose that the firms face a demand curve given by P = 60 – Q and both firms have constant marginal cost of 40. What is the market clearing Bertrand price and quantity?

  Examine the demand for videocassette recorders

Let's examine the demand for videocassette recorders (VCRs), which can be affected by their own price as well as the income of consumers and the price of a competing good, the DVD player.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd