wait what -.- i dont get it
Alexander the Great wanted to conquer Asia, defeat the Persians, and Unite Greece :)
i prob answered already 5 questions
The intersection between the supply curve (an upward sloping function) and the demand curve (a downwardsloping function) determines the equilibrium point of a market. The equilibrium is the point which represents the exact market price and quantity demanded/supplied at which the wishes of consumers and suppliers meet.
<u>When the market is not in the equilibrium point</u>, two different situations could be happening:
- Excess demand: this is a situation in which the market price is located below the equilibrium price. The quantity demanded at that market price would exceed the amount that the producers are willing to produce and supply at that same price. Therefore, not all consumers are able to obtain the product they desire and there is rationing.
- Excess supply: at a certain price located above the equilibrium, the quantity that suppliers are willing to produce exceeds the amount demanded by consumers at that more expensive price. Therefore, suppliers would not be able to sell their whole production in the market.
Answer:
Mexico also agreed to sell its New Mexico and Upper California territories to the United States at a price of $15 million. The treaty effectively halved the size of Mexico and doubled the territory of the United States. This territorial exchange had long-term effects on both nations
