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.
The one provision that the immigration reform and control act of 1986 was to impose punishment to those employers who hire and accept illegal immigrants to work with them. This is also to check any unauthorized immigrants that enter the country. Hope this helps.
Answer: A. They developed terraces
Explanation:
It’s not b or c because I got both wrong so it has to be a or d.
The major cause of shifts in political allegiance during this time came from the Great Depression, which required strong government intervention to correct the issue. These interventions became commonly ascociated with the Democratic Party, thanks to FDR.
Answer= Alfheim .
Land of the Elves" or "Elfland"), Anglicised as Alfheim
