Question and answer
Question not found
Ask a question
Not a good answer? Get an answer now. (Free)
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
explain the relationship between the equilibrium price and efficiency.
Weegy: In many aspects of economic analysis, we tend to assume that a condition of equilibrium exists with respect to key economic variables. [ Common examples include different models of market behavior known as Supply and Demand analysis. In these models of the market, we define the behavior or sellers based on the goal of profit maximization in the production and/or sale of a particular good. Higher selling prices allow a trader/seller to reap a gain over and above the price initially paid for a final good or asset. In the case of business firms, the production of additional units of a particular good involve increasing opportunity costs in drawing resource inputs away from other productive uses. Higher prices are necessary to cover these increasing costs of production. Thus, these types of behaviors on the selling side of the market typically lead to a positive relationship between market price (the dependent variable) and quantity supplied (the independent variable). Separately, we define the behavior of buyers based on the goal of maximizing the utility gained from the purchase and consumption of this same good. As prices fall, holding income constant, the buyer finds that his/her purchasing power has increased allowing for buying greater quantities of a particular good. It is also the case that, for the consumer, additional quantities of a good consumed provide less additional satisfaction relative to previous units consumed. This notion known as diminishing marginal utility implies that the consumer is willing to pay less for these additional units as it becomes more efficient to use his/her income for the purchase of other goods. For the buyer, these types of behaviors typically lead to a negative relationship between the market price (dependent variable) and quantity demanded (another independent variable). ] (More)
Question
Expert Answered
Asked 4/30/2013 10:57:38 AM
0 Answers/Comments
Changing American attitudes and movements following World War I were a result of all of these factors except: return to normalcy Prohibition disarmament social reforms immigration limits urbanization
Weegy: Changing American attitudes and movements following World War I were a result of all of these factors except: Answer: social reforms (More)
Question
Expert Answered
Asked 4/30/2013 12:44:11 PM
0 Answers/Comments
25,022,799 questions answered
Popular Conversations
A credit report is a _____.
5/2/2016 7:02:18 AM| 2 Answers
Where did Pure Land Buddhism first become ...
5/2/2016 7:37:41 AM| 2 Answers
2 2/3-5/6
Weegy: 4 1/3 - 5/6 - 1/2 is equal to 3 User: A 5-story building is 51.1 feet tall. How many feet tall is each story
5/2/2016 8:20:33 AM| 2 Answers
Which of the following is a transitional word found in this ...
Weegy: what's your question? User: Which of these words from the paragraph is NOT a transitional word or ...
5/2/2016 8:20:41 AM| 2 Answers
Which of the following technologies was NOT created during World War ...
Weegy: B. antibiotics User: Which of the following terms could be applied to the United States during the Cold ...
5/2/2016 8:37:12 AM| 2 Answers
What is Luminol?
5/2/2016 8:57:15 AM| 2 Answers
Weegy Stuff
S
Points 151 [Total 151] Ratings 7 Comments 81 Invitations 0 Online
S
Points 115 [Total 115] Ratings 2 Comments 85 Invitations 1 Online
S
1
L
L
P
R
P
L
P
P
R
Points 92 [Total 12344] Ratings 1 Comments 82 Invitations 0 Offline
S
Points 38 [Total 107] Ratings 0 Comments 38 Invitations 0 Offline
S
Points 11 [Total 156] Ratings 0 Comments 11 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Online
S
L
P
Points 4 [Total 1169] Ratings 0 Comments 4 Invitations 0 Offline
S
Points 1 [Total 48] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
R
Points 1 [Total 723] Ratings 0 Comments 1 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.