Ch03
Economics 12 Unit 2 – Demand and Supply Price Ceilings and Price Floors.
Increases and Decrease in Demand Higher demand leads to higher equilibrium price and higher equilibrium quantity supplied Lower demand leads to lower.
M ARKET EQUILIBRIUM. Market equilibrium exists when quantity demanded (Qd) equals quantity supplied (Qs). It can be determined by the intersection between.
Models of Competition Part I: Perfect Competition Agenda: I.What is Competition? II.Assumptions underlying perfect competition III.Optimal production quantity,
Price & The Market Equilibrium. Demand and Supply interact and determine the price of a product, and the quantity bought or sold. With competition,
