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qwelly [4]
3 years ago
8

How would you summarize historían Eric foner’s perspective on Abraham Lincoln

History
1 answer:
kompoz [17]3 years ago
6 0

Explanation:

Eric would explain everything on Abraham Lincoln. He has all of his whereabouts in history. He discuss the legacy and the americans most wanted by doing it with a journal and do speeches of it.

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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.

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