Question: Use a supply - and - demand diagram to explain the statement Talk is cheap because supply exceeds demand. At what price is this comparison
Use a supplyanddemand diagram to explain the statement "Talk is cheap because supply exceeds demand." At what price is this comparison being made?
Using the line drawing tool, graph the demand curve for talk. Label this curve D
Using the line drawing tool, graph the supply curve for talk. Label this curve S
Carefully follow the instructions above, and only draw the required objects.
The statement makes sense if we interpret it to mean that the quantity supplied of talk exceeds the quantity demanded at a price of
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