Which explains why the price indicated by p2 on the graph is higher than the equilibrium price? As prices rise, demand goes down. The graph shows excess demand.
Where is the equilibrium point on this graph?
On a graph, the point where the supply curve (S) and the demand curve (D) intersect is the equilibrium.
Which needs to happen to the price indicated by p2 on the graph in order to achieve equilibrium Brainly?
Which needs to happen to the price indicated by p2 on the graph in order to achieve equilibrium? It needs to be decreased.
What does Q represent on the graph the graph shows a point of equilibrium?
The graph shows demand. What does “Q” represent on the graph? the quantity at the equilibrium point. The graph shows excess demand.
What does P represent on the graph the point where equilibrium is achieved?
The price of goods needs to be increased. The graph shows a point of equilibrium. What does “P” represent on the graph? The price of the product will decrease to meet equilibrium.
Which explains why the price indicated by p2 on the graph is higher than the equilibrium price as prices rise quantity?
Which explains why the price indicated by p2 on the graph is higher than the equilibrium price? As prices rise, quantity demanded goes up. As prices rise, quantity demanded stays the same.
How do you explain equilibrium point?
The point of equilibrium represents a theoretical state of rest where all economic transactions that “should” occur, given the initial state of all relevant economic variables, have taken place.
What is the significance of the equilibrium point?
Equilibrium is important to create both a balanced market and an efficient market. If a market is at its equilibrium price and quantity, then it has no reason to move away from that point, because it’s balancing the quantity supplied and the quantity demanded.
How do you find equilibrium?
The equilibrium in a market occurs where the quantity supplied in that market is equal to the quantity demanded in that market. Therefore, we can find the equilibrium by setting supply and demand equal and then solving for P.
What does the green arrow represent?
Oliver Queen is meant to represent the capitalist agenda of big money, expansion and wealth. Green Arrow is a symbol of activism, freedom and anti-authoritarianism.
Which needs to happen in order to stop disequilibrium?
Which needs to happen in order to stop disequilibrium from occurring? The price of the product must go down.
What is the price at which equilibrium is achieved quizlet?
An equilibrium price is achieved in a market when: quantity supplied equals quantity demanded. At a price above equilibrium: quantity supplied exceeds quantity demanded.
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