Explain why the price doesn't change when a market is in equilibrium
It doesn't change because there is no excess demand or excess supply to trigger bargaining activity in order
to force a price change.
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Regarding the Interstate Commerce Commission (ICC),
(a) historians agree that it was primarily "captured" by the industry that it was supposed to regulate. (b) historians agree that it was primarily "captured" by passengers and shippers to the disadvantage of the railroads. (c) historians generally agree that it was not "captured" by any group, but rather served the public well. (d) historians do not "agree" on any of the above.
Which of the following statements is TRUE?
A) consumption + saving = disposable income B) consumption + saving = personal income C) consumption - investment = disposable income D) consumption - saving = personal income