The natural tendency to equilibrium in a given market happens when the price is lower or higher than the equilibrium there will come a time that price would settle down or redound to the equilibrium price. when the equilibrium price increases due to the satisfaction of the consumer. when the equilibrium quantity decreases due to the shortage of supply. all of the above
The natural tendency to equilibrium in a given market happens when the price is lower or higher than the equilibrium there will come a time that price would settle down or redound to the equilibrium price. when the equilibrium price increases due to the satisfaction of the consumer. when the equilibrium quantity decreases due to the shortage of supply. all of the above
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter8: Understanding Markets And Industry Changes
Section: Chapter Questions
Problem 2MC
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The natural tendency to equilibrium in a given market happens when
the price is lower or higher than the equilibrium there will come a time that price would settle down or redound to the equilibrium price .
when the equilibrium price increases due to the satisfaction of the consumer.
when the equilibrium quantity decreases due to the shortage of supply.
all of the above
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