The economy operates according to the law of supply and demand for goods and services. According to this theory, the interaction between supply and demand for a good or service fits and the vector of adjustment is price.
If the price is high, there is more supply than demand. If the price is low, there is more demand than supply. If demand increases, price increases and supply increases. If demand falls, the price falls. That is, the price makes the interaction. There will be a moment where the quantity offered is exactly equal to the quantity demanded, at which point the price practiced is the equilibrium price.
So if an economy is in equilibrium at a time and then the price charged is higher than the equilibrium price, it means that demand has gotten higher than supply.
<u>However, none of the alternatives would explain why a price is charged above the equilibrium price.</u> <u>The answer is the reverse of what is written in alternative (A)</u>. The truth is this: As the quantity demanded rises, the price rises above the equilibrium price. <u>This is the answer</u>.
The alternative (B) is true, although it does not answer the question of the problem. If prices rise, demand falls. This is because the high price discourages consumption.
BTW, I'm an economist and I'm sure.
Answer:
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Eugene "Bull" Connor was Birmingham’s Commissioner of Public Safety in 1961 when the Freedom Riders came to town. He was known as an ultra-segregationist with close ties to the KKK. Connor encouraged the violence that met the CORE Freedom Riders at the Birmingham Trailways Bus station by promising local Klansmen that, "He would see to it that 15 or 20 minutes would elapse before the police arrived."
Connor was active in Alabama politics for many decades. In 1962 he sought the Democratic gubernatorial nomination, beginning his campaign in January by promising to buy "one hundred new police dogs for use in the event of more Freedom Rides." Connor was eliminated in the May 8 primary and ultimately endorsed the eventual winner, George Wallace.
Connor stayed in the national news in the spring of 1963 when the Southern Christian Leadership Coalition (SCLC) brought Project C (for Confrontation) to Birmingham. The police tried to control thousands of nonviolent protesters, including children, with high-pressure fire hoses and police dogs. Martin Luther King Jr.'s famous "Letter from Birmingham Jail" was written during this time.
C would be correct.
The Mycenaean civilization flourished in the late Bronze Age, from the 15th to the 13th century BCE and extended its influence not only throughout the Peloponnese in Greece but also across the Aegean, in particular, on Crete and the Cycladic islands.The Mycenaeans were influenced by the earlier Minoan civilization ( ...
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Probably the kingdom of axum
I think it’s duke William
