What’s one difference between a checking account and a savings account

Before I answer this question, you must note that the equilibrium price is created by both the amount supplied of a certain product as well as how much "customers" there are (or the amount that is bought in all). This however, is usually not taking account any potential competitors.

For example, let say that the price in creating the product (or buying) is $15. This means that right now, the company loses $15 for one of the products. To make a profit, the selling price must be >$15. However, (unless they are a monopoly, such as, for example, electrical companies) there are competitors that they must fight with to get customers. Of course, there are other things that can affect the price, depending on the demographic and area.

So how does supply and demand affect the equilibrium price? The limits of the supply & the amount of demand would help determine the price by the amount of people buying and the supply of the product.

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6 0

2 years ago

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Assume there are 100 suppliers of widgets in the widget market. Half of these suppliers supply 35 widgets to the market each, a

Bess [88]

Answer:

Total widgets supplied in the market will be 4000

So option (d) will be correct answer

Explanation:

We have given total number of suppliers = 100

It is given that half of the suppliers supply 35 widgets

So 50 supplier supply 35 widgets each

So total number widgets supplied by 50 supplier = 50×35 = 1750

A quarter, that is 25 supplier supply 40 widgets

So widgets supplied by 25 supplier = 25×40 = 1000

And other quarter, that is 25 supplier supply 50 widgets each

So widgets supplied by 25 supplier = 25×50 = 1250

So total widgets supplied in the market will be = 1750+1000+1250 = 4000

So option (d) will be correct answer

5 0

3 years ago