draw a basic market graph. Title it the market for the product in your news article. Label axes, curves, eqilibruim price and eq
1 answer:
The basic market graph is attached below.
<h3>What do you mean by market equilibrium?</h3>A market is said to have reached equilibrium price when the supply of goods matches demand.
The equilibrium price is the only price where the plans of consumers and the plans of producers agree, where the amount consumers want to buy of the product, quantity demanded, is equal to the amount producers want to sell, quantity supplied. This common quantity is called the equilibrium quantity.
Quantity of gasoline:
Explanation of graph: 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. At a price above equilibrium, like 1.8 dollars, quantity supplied exceeds the quantity demanded, so there is excess supply.
At a price below equilibrium, such as 1.2 dollars, quantity demanded exceeds quantity supplied, so there is excess demand.
Learn more about equilibrium quantity here:
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We have been given that in ΔJKL, the measure of ∠L=90°, KL = 22 feet, and JK = 54 feet. We are asked to find the measure of angle J to nearest degree.
First of all, we will draw a triangle as shown in the attachment.
We can see from our attachment that side KL is opposite side to angle J and side JK is hypotenuse of right triangle.
We know that sine relates opposite side of right triangle to hypotenuse.
Using inverse sine or arcsin, we will get:
Upon rounding to nearest degree, we will get:
Therefore, the measure of angle J is approximately 24 degrees.
