Question

Use the three-step demand-supply analysis discussed in class to analyze changes to the equilibrium price, and quantity in the california computer market

Answer 1

A new computer chip affects the supply curve only.

Demand-supply is an economic version of price determination in a market. It postulates that preserving all else identical, in an aggressive market, the unit price for a specific appropriate, or other traded item which includes hard work or liquid financial property, will range till it settles at a point in which the quantity demanded (at the modern price) will same the quantity supplied (on the modern-day price), ensuing in an economic equilibrium for rate and quantity transacted.

Equilibrium is a scenario wherein economic forces consisting of delivery and demand are balanced and in the absence of outside impacts the values of economic variables will no longer alternate.

Philosophical analysis is any of various techniques, typically used by philosophers in the analytic culture, to be able to "damage down" philosophical problems. Arguably the maximum prominent of those techniques is the evaluation of concepts.

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