A decrease in the demand for eggs results in a surplus of eggs at the original equilibrium price. Explain how market forces will act to eliminate the surplus
What will be an ideal response?
The price of eggs will fall. As it falls, the quantity of eggs supplied will fall and the quantity of eggs demanded will rise. Eventually, at the new market equilibrium price, quantity demanded will be equal to quantity supplied. The market will be in equilibrium.
Economics
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Briefly explain why having a completely clean environment has costs and may not be the best option to pursue.
What will be an ideal response?
Economics
Impure public goods
A. are nonrival in consumption. B. cannot be priced in the market. C. are rival in consumption. D. are never provided by the private sector.
Economics