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Andreas93 [3]
3 years ago
9

In 1-2 sentences, define an equilibrium price and explain how you found the equilibrium price for your good or service.

History
1 answer:
Tamiku [17]3 years ago
4 0
The equilibrium is the price that comes out from adding all the direct related costs in producing the good or service. To this total you have to add the indirect costs, for example, taxes, salaries, etc. Add up both results and you will have the price.
The equilibrium price is the price that covers all your expenses, both direct and indirect. With this price you do not lose nor earn any money.
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France under the Ancien Régime (before the French Revolution) divided society into three estates: the First Estate (clergy); the Second Estate (nobility); and the Third Estate (commoners). The king was considered part of no estate.

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2. Political conflict: conflict between the Monarchy and the nobility over the “reform” of the tax system led to paralysis and bankruptcy.

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