Business, 14.01.2020 20:31 yam44

Select the correct answer.

which statement defines equilibrium in a graph showing demand and supply curves?

a. it is the point where the demand and supply curves intersect.

b. it is the point where the demand and supply curves begin.

c. it is the point on the demand curve where demand is highest.

d. it is the point on the supply curve where supply is highest.

Answers: 2

Show answers

Answers

Answer from: SavageKidKobe

A. It is the point where the demand and supply curves Intersect.

Explanation:

Demand and supply curves determine the price of that particular product. The demand and supply curves are drawn from quantity in the horizontal axis and price in the vertical axis.

The demand can be described as the amount of goods or services that consumers buy at a given time at a particular price. The price usually dictates the quantity of goods that a consumer will be willing to buy depending on whether it is a want or need. Needs are goods or services that a consumer cannot do without, there demand are usually stable while a want is not priority that a consumer can do without. An increase in the price of a good or service for a want will definitely cause a reduction in the demand for the particular good or service since the consumers feel that they are paying too much for the service or good.

The supply can be described as the quantity of goods or services that the supplier or producer is willing to provide at a particular price. Most of the time, an increase in the price of a good or service encourages the suppliers to supply more of the goods or services to maximize on the profits.

The point at which the demand and supply curve intersect is referred to as equilibrium. At this point, the quantity demanded and the quantity supplied is equal. On the same note, the price the consumers are willing to pay, and the price the suppliers are willing to receive for that particular good or service is equal.

Answer from: Quest

Are legally capable of doing everything a neurologist can do with a patient in most states.

Answer from: Quest

if kj of heat is transferred o 1200 g liquid water at 36'c, what would the new temperature of the water be? (he specific heat capacity of liquid water is 4.186 j/g''c)

a. 15'c

b.100'c

c.51'c

d.36'c

Another question on Business

Business, 21.06.2019 22:40

Gyou plan to deposit $1,700 per year for 5 years into a money market account with an annual return of 2%. you plan to make your first deposit one year from today. what amount will be in your account at the end of 5 years? round your answer to the nearest cent. do not round intermediate calculations. $ assume that your deposits will begin today. what amount will be in your account after 5 years? round your answer to the nearest cent. do not round intermediate calculations.

Answers: 2

Answer

Business, 22.06.2019 07:10

mark, a civil engineer, entered into a contract with david. as per the contract, mark agreed to design and build a house for david for a specified fee. mark provided david with an estimation of the total cost and the contract was mutually agreed upon. however, during construction, when mark increased the price due to a miscalculation on his part, david refused to pay the amount. this scenario is an example of a mistake.

Answers: 1

Answer

Business, 22.06.2019 13:00

Reliability and validity reliability and validity are two important considerations that must be made with any type of data collection. reliability refers to the ability to consistently produce a given result. in the context of psychological research, this would mean that any instruments or tools used to collect data do so in consistent, reproducible ways. unfortunately, being consistent in measurement does not necessarily mean that you have measured something correctly. to illustrate this concept, consider a kitchen scale that would be used to measure the weight of cereal that you eat in the morning. if the scale is not properly calibrated, it may consistently under- or overestimate the amount of cereal that’s being measured. while the scale is highly reliable in producing consistent results (e.g., the same amount of cereal poured onto the scale produces the same reading each time), those results are incorrect. this is where validity comes into play. validity refers to the extent to which a given instrument or tool accurately measures what it’s supposed to measure. while any valid measure is by necessity reliable, the reverse is not necessarily true. researchers strive to use instruments that are both highly reliable and valid.

Answers: 1

Answer

Business, 22.06.2019 20:40

Asmall town wants to build some new recreational facilities. the proposed facilities include a swimming pool, recreation center, basketball court and baseball field. the town council wants to provide the facilities which will be used by the most people, but they face budget and land limitations. the town has $400,000 and 14 acres of land. the pool requires locker facilities which would be in the recreation center, so if the swimming pool is built the recreation center must also be built. also, the council has only enough flat land to build the basketball court or the baseball field. the daily usage and cost of the facilities (in $1,000) are shown below. which facilities should they build? facilityusagecost ($1,000)landswimming pool4001002recreation center5002003basketball court3001504baseball field2001005

Answers: 1

Answer

You know the right answer?

Select the correct answer.

which statement defines equilibrium in a graph showing demand...

Questions