Explain how market equilibrium is reached starting from a point at which the price of a good
Question:
Explain how market equilibrium is reached starting from a point at which the price of a good is above the equilibrium price.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
Market equilibrium occurs when the quantity of a good demanded by consumers equals the quantity supp...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Charlotte Inc., a domestic corporation, has $2.5 million of qualified foreign taxes paid during the year on $5 million of foreign income. Assume the U.S. tax rate is 21 percent. The foreign tax...
-
If the electric potential of the inner metal sphere is 10 volt & that of the outer shell is 5 volt, then the potential at the centre will be: (1) 10 volt (2) 5 volt (3) 15 volt (4) 0 a
-
A solid cylinder, Im diameter and 800mm high, is of uniform relative density 0.85 and floats with its axis vertical in still water. Calculate the periodic time of small oscillations about a...
-
Q-1. You are the new Governor of State Bank of Pakistan after Reza Baqir. For each of the situations listed below, decide if you would use Easy-Monetary policy or Tight-Monetary policy. a) RGDP...
-
The following is from a Federal Reserve publication: In practice, monetary policymakers do not have up-to-the-minute, reliable information about the state of the economy and prices. Information is...
-
Harwell Company manufactures automobile tires. On July 15, 2024, the company sold 1,000 tires to the Nixon Car Company for $50 each. The terms of the sale were 2/10, n/30. Harwell uses the gross...
-
Define vacuum efficiency and condenser efficiency.
-
Tonys Textiles uses a predetermined factory overhead rate based on machine-hours. For May, Tonys budgeted overhead was $210,000 based on a budgeted volume of 35,000 machine-hours. Actual overhead...
-
1: How well do Cummins' vision, mission, and value statements provide a framework for Cummins' decision to follow to the requirements of the EPA consent decree? 2: Considering Cummins strategic...
-
During the current year, Ron and Anne sold the following assets: (Use the dividends and capital gains tax rates and tax rate schedules.) Capital Asset Market Value Tax Basis Holding Period L stock $...
-
Peter Kay is arguably the United Kingdoms most successful comedian. In 2012, he broke the world record when his tour, Tour That Doesnt Tour, became the worlds highest selling stand-up comedy tour,...
-
Can you think of a good or service that is produced entirely by one companywithout the purchase of any raw materials or other goods or services from another company? First, each member of the group...
-
Using the payroll register from 6-2A for Charles' Cleaners, complete the General Journal entry for the employees' pay for the July 12 pay date. Paychecks will be issued in the future.
-
Among the enterprises that you know, can you identify one that qualifies as a global company? Why?
-
What decision capabilities should the future HR department of Wells Fargo possess?
-
How can multilateral funds improve the support of a green and resilient development policy in emerging economies?
-
Due to climate change it is necessary to improve research skills and firm-level innovation in the agriculture sector. Discuss the experience that occurred in Carmens internship.
-
How much control should the HR department possess in a business/company?
-
Alisa Kamufs company has reported losses from operations for several years. Industry standards indicate that prices are normally set at 30 percent above manufacturing cost, which Ms. Kamuf has done....
-
Subprime loans have higher loss rates than many other types of loans. Explain why lenders offer subprime loans. Describe the characteristics of the typical borrower in a subprime consumer loan.
-
A number of professional associations, such as the American Medical Association and the American Bar Association, support regulations that make it more costly for their members (for example, doctors...
-
Barnacle Industries was awarded a patent over 15 years ago for a unique industrial strength cleaner that removes barnacles and other particles from the hulls of ships. Thanks to its monopoly...
-
During the dot-com era, mergers among some brokerage houses resulted in the acquiring firm paying a premium on the order of $100 for each of the acquired firms customers. Is there a business...
-
What are the implications of adopting a holacratic organizational structure for traditional management roles and hierarchies, and how might this influence corporate culture and employee...
-
Pin Corporation, a U.S. company, formed a British subsidiary on January 1, 2023 by investing 450,000 British pounds () in exchange for all of the subsidiary's common stock. The British subsidiary,...
-
A non dividend paying stock is trading at $45. What arbitrage opportunity is present if an American call option on the stock with an exercise price of $42 is trading at $2?
Study smarter with the SolutionInn App