Question: When market equilibrium occurs, quantity demanded is equal to quantity supplied, which means that both sellers and buyers get what they want. Does a market

When market equilibrium occurs, quantity demanded is equal to quantity supplied, which means that both sellers and buyers get what they want. Does a market reach market equilibrium on its own, or is it necessary to have some sort of regulator to manage the price and ensure there is equilibrium? Explain your answer carefully.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

When market equilibrium occurs, quantity demanded is equal to quantity supplied, which means that both sellers and buyers get what they want. Does a market reach market equilibrium on its own, or is...

Q:

When market equilibrium occurs, quantity demanded is equal to quantity supplied, which means that both sellers and buyers get what they want. Does a market reach market equilibrium on its own, or is...

Q:

When market equilibrium occurs, quantity demanded is equal to quantity supplied, which means that both sellers and buyers get what they want. Does a market reach market equilibrium on its own, or is...

Q:

Question 1 2 pts At the market equilibrium, the quantity demanded is equal to the quantity supplied. Group of answer choices True False Flag question: Question 2 Question 2 2 pts Economic welfare is...

Q:

Stralhmore U N I V E R SITY STRATHMORE INSTITUTE OF MANAGEMENT AND TECHNOLOGY DIPLOMA IN INTERNATIONAL RELATIONS END OF SEMESTER EXAMINATION DIR 1304: ECONOMICS AND INTERNATIONAL RELATIONS DATE: 12'h...

Q:

The effect of a fall in the price of a complementary Product M on the market for Product N will be to A. shift the demand curve right and increase the equilibrium price. B. shift the demand curve...

Q:

19246 (9 E El} 0 \";'I2'TE'l .III .I 510/015 6 PW.\" EC01006F 2023...utoria| 3 (1).pdf Readonly 4- c?) 2 Tutorial 3 40 marks Ehi Idoko Due Monday March 6, 2023 by 12 noon Part A [10 marks. 2 marks...

Q:

6. Macroeconomics is best defined as: A. analysis of how a consumer spends their money B. analysis of how firms attempt to maximize their profits C. study of the large aggregates of the economy or...

Q:

PLEASE ANSWER EACH QUESTION) 1. Realities in our political system that make health care reform difficult are: a. Congress has rules about about voting legislation that make it difficult to do...

Q:

(PLEASE ANSWER EACH QUESTION) 1. Realities in our political system that make health care reform difficult are: a. Congress has rules about about voting legislation that make it difficult to do...

Q:

Suppose we are given a table of integers, A, having m rows and n columns, and a list of integers, X, having n elements. We wish to generate a new list of integers, y that is formed by carrying out...

Q:

The Prime Company produces two products, X and Y. They are produced jointly so for each X manufactured a unit of Y is also produced. The joint cost function is TC = 50 + 2Q + .5Q2 Q represents the...

Q:

How long should a heat acclimation period last? 1 - 3 days Acclimation is unnecessary 7 - 1 4 days 1 4 - 2 8 days

Q:

As the manager of Smith Construction, you need to make a decision on the number of homes to build in a new residential area where you are the only builder. Unfortunately, you must build the homes...