Often asked: Which Housing Decision Gives A Person The Best Chance To Make A Profit On His Or Her Investment?

In which situation would the price of a good be most likely to increase?

The price of a good be most likely to increase when a rise in demand happens too quickly for producers to increase production to keep up.

Which are needed to determine the equilibrium of a good or service?

Which of the following are needed to determine the equilibrium price of a good or service? A. A supply curve and a demand curve. The equilibrium price of a good or service.

Which is most likely to result from a rapid increase in the population of a city or town?

Which is most likely to result from a rapid increase in the population of a city or town? Answer: Seller’s market is the correct answer.

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Which is shown by the intersection of the supply curve and the demand curve?

The demand curve, D, and the supply curve, S, intersect at the equilibrium point E, with an equilibrium price of 1.4 dollars and an equilibrium quantity of 600. The equilibrium is the only price where quantity demanded is equal to quantity supplied.

Which situation is most likely to lead to the lowest prices?

The correct answer is: ” demand decreases and supply remains the same “.

Which states one reason why the labor market isn’t a completely free market?

Labor is a commodity. Which states one reason why the labor market isn’t a completely free market? Workers can’t always change jobs when they want to. Outsourcing increases the domestic supply of workers, driving down the price of labor.

Which best describes what happens to the amount of a good or service?

Which best describes what happens to the amount of a good or service that is supplied to consumers? The amount of a good or service can change. The amount of a service cannot change. The amount of a good or service can change.

How do you solve market equilibrium?

Here is how to find the equilibrium price of a product:

  1. Use the supply function for quantity. You use the supply formula, Qs = x + yP, to find the supply line algebraically or on a graph.
  2. Use the demand function for quantity.
  3. Set the two quantities equal in terms of price.
  4. Solve for the equilibrium price.

What happens to equilibrium price and quantity when demand increases?

The equilibrium price is the price at which the quantity demanded equals the quantity supplied. An increase in demand, all other things unchanged, will cause the equilibrium price to rise; quantity supplied will increase. A decrease in demand will cause the equilibrium price to fall; quantity supplied will decrease.

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What was a consequence of rapid growth of cities in the late 1800s?

The rapid growth of tenements and ghettos. What was a consequence of the rapid growth of cities in the late 1800s? Political machines were profiting from kickback on public contracts. The cartoon at the left by Thomas Nast was published in 1871.

What laws helped workers in the late 1800s?

What laws helped workers in the late 1800s? Some laws that helped workers in the late 1800s were the Mutual-aid Society, Standard of Living, and Urban Renewal.

What caused urbanization in the late 19th century?

One important result of industrialization and immigration was the growth of cities, a process known as urbanization. Commonly, factories were located near urban areas. These businesses attracted immigrants and people moving from rural areas who were looking for employment. Cities grew at a rapid rate as a result.

What happens when supply and demand intersect?

The equilibrium price and equilibrium quantity occur where the supply and demand curves cross. The equilibrium occurs where the quantity demanded is equal to the quantity supplied. If the price is below the equilibrium level, then the quantity demanded will exceed the quantity supplied.

What happens when demand and supply curve Don’t intersect each other?

Demand curve lying below supply curve indicates that there is no demand for the product of suppliers because the price is too high for the consumers. As a result product will not be produced. Thus a non-viable industry is one whose demand and supply curves do not intersect each other at any positive quantity.

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What happens when supply and demand meet?

Equilibrium: Where Supply Meets Demand Equilibrium is the point where demand for a product equals the quantity supplied. This means that there’s no surplus and no shortage of goods. A shortage occurs when demand exceeds supply – in other words, when the price is too low. This enables them to raise the price.

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