Answer: The equilibrium point represents the raising or lowering the price in response to changes in the supply or demand.
If the price of a good is above equilibrium, this means that the quantity of the good supplied exceeds the quantity of the good demanded.
If the quantity is below the equilibrium point, it will create a shortage. because the quantity supplied is less than quantity demanded.
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Step-by-step explanation:
Answer:
p * s(3) + b
Step-by-step explanation:
Answer:
I doing it for points 20
Step-by-step explanation:
Im doing it for points
The slope of the line is 1/7 You do the change in y divided by the change in x