in the above figure, the unregulated, competitive market equilibrium is tuition of and the equilibrium quantity is students in c

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ValentinkaMS [17]

1 year ago

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in the above figure, the unregulated, competitive market equilibrium is tuition of and the equilibrium quantity is students in c

ollege. group of answer choices $6,000; 50 million $12,000; 40 million $18,000; 30 million $18,000; 50 million

Business

1 answer:

padilas [110] · Answer 1 · 2024-03-30T23:20:58+03:00

The uncontrolled, competitive market equilibrium in the aforementioned graph has a tuition of $18,000 and a quantity of 30 million college students.

<h3>What Is Competitive Equilibrium? </h3>

Competitive equilibrium is a situation in which profit-maximizing producers and utility-maximizing customers reach an equilibrium price in competitive markets with freely determined prices. The quantity supplied and the quantity demanded are equal at the equilibrium price.

<h3>Why do competitive marketplaces alter equilibrium?</h3>

The market is constantly moving towards equilibrium because if the price is too high, there is a surplus and prices tend to drop until the surplus is sold and equilibrium is attained, and if the price is too low, there is a shortage and manufacturers raise prices and increase quantity provided.

Learn more about competitive market equilibrium: brainly.com/question/14412690

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