Answer: in the given hypothetical statement above in order for the market to coordinate the demand and supply for dvds, the price of dvds will have to increase. When the price of dvds increase the supply will increase too, because the suppliers will now have a greater profit margin than before. On the other hand, the demand will decrease because of the higher prices and in this way the demand and supply curves will reach an equilibrium.
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It allows scientists from disparate regions to use a single standard in communicating scientific data without vocabulary confusion.
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<u>Monopolistic Competition:</u>
4. a firm that faces a downward sloping demand curve.
<u>Perfect Competition:</u>
1. a firm that produces with excess capacity in
3. a firm that may earn in an economy profit or loss in the short run
5. a firm that that maximizes profits profit in the long by producing where MR = MC
<u>Both:</u>
2. a firm that has a firm that sets price greater than marginal cost.
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Bank reserves are the cash minimums that must be kept on hand by financial institutions in order to meet central bank requirements. The bank cannot lend the money but must keep it in the vault, on-site or at the central bank, in order to meet any large and unexpected demand for withdrawals.
