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daser333 [38]
3 years ago
10

How is equilibrium reflected in the supply curve and

Social Studies
1 answer:
Naya [18.7K]3 years ago
5 0

In the supply curve and the demand curve, the equilibrium is reflected where the two curves intersect.

<u>Explanation:</u>

Equilibrium is fundamentally the condition in which the factors involved in the operation achieve balance of values with respect to each other. In the discipline of market economics, two major factors involved are that of supply and demand.

The equilibrium between supply and demand is achieved when the demand for a commodity or a service in the market is equal to the supply of the respective commodity or service.

When represented graphically, the condition of equilibrium is depicted through the intersection of the demand and supply curves.

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2 years ago
The theory of plate tectonics says that South America broke apart from __________. A. Europe B. North America C. Africa D. Asia
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3 years ago
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Katherine has a physics exam tomorrow. However, a free lecture by one of her favorite authors is taking place this evening. Kath
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<u>Explanation</u>:

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The opportunity cost can be explained as giving up of profit or value to achieve something else. Opportunity cost is the value of giving up the best thing whenever you make a decision. When Katherine decided to attend the lecture of her favorite author, she lost her time, transportation cost and even scored low grade in physics exam as didn’t study on exam night.

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3 years ago
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