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
How do the concepts of microeconomics help you understand the factors that affect shifts in supply and demand on the equilibrium price and quantity?
Weegy: The supply and demand model relies on a high degree of competition, meaning that there are enough buyers and sellers in the market for bidding to take place. [ Buyers bid against each other and thereby raise the price, while sellers bid against each other and thereby lower the price. The equilibrium is a point at which all the bidding has been done; nobody has an incentive to offer higher prices or accept lower prices. ] User: How may you apply what you learned about supply and demand from the simulation to your workplace or your understanding of a real-world product with which you are familiar? Weegy: After completing the “Applying Supply and Demand Concepts” simulation the following concepts and principles were identified: demand and supply along with equilibrium as microeconomic principles, [ and shifts in demand and supply along with price ceiling as macroeconomic concepts. The previous concepts were identified accordingly because microeconomics analyzes from the parts to a whole; therefore, supply and demand and equilibrium as the small parts that affect the whole. In contrast macroeconomics analyzing from the whole to the parts reflects how the concepts of price ceiling and shifts in demand and supply are larger outside factors that affect the smaller internal parts. Supply and Demand Curve Shifts In the simulation there were multiple examples reflecting shifts in the demand curve as well as shifts in the supply curve. For any supplier, a higher price is an incentive to supply more; therefore, as rental rates increased, the number of apartments GoodLife was willing to lease also increased. Typically, the reason for this shift could be either production or maintenance costs, which means that each additional unit of the product would be supplied at a higher price. As the rental rate increases, the number of apartments supplied increases is an example of an upward sloping supply curve. As for the shift in the demand curve, this was caused by the ... (More)
Question
Expert Answered
Asked 2/11/2013 11:05:55 PM
0 Answers/Comments
17,933,481 questions answered
Popular Conversations
Manhattan Island is __________. A. the largest island in Canada B. ...
Weegy: the manhattan island is the most highly populated island in north america. letter D would be the best answer. ...
10/22/2014 8:51:05 AM| 9 Answers
Arabian glass, which authorities believe appeared in the second half ...
Weegy: Obsidian, which was used by early man to make arrowheads, is a naturally occurring glass. 'which was used by ...
10/22/2014 10:45:16 AM| 3 Answers
Perform the indicated operation. (8c 2 - 2c - 15) ÷ (4c + 5) = ...
Weegy: 3-3 = 0 User: Cool Scoops ice cream shop offers 60 different one-topping sundaes. If there are 12 flavors of ...
10/22/2014 11:16:59 AM| 3 Answers
Which kingdom contains only ...
Weegy: Which kingdom contains only producers? - D. Plantae
10/22/2014 7:29:36 AM| 2 Answers
Which words in the sentence make up the adjective phrase? Which word ...
Weegy: Which words in the sentence make up the adjective phrase? Which word does the adjective phrase modify? Bees ...
10/22/2014 9:30:59 AM| 2 Answers
What is the center of the circle that has a diameter whose endpoints ...
Weegy: The center of the circle that has a diameter whose endpoints are (2, 7) and (-6, -1) is (-2, 3) User: ...
10/22/2014 10:50:52 AM| 2 Answers
Weegy Stuff
S
L
1
1
1
1
L
1
L
Points 2349 [Total 14724]| Ratings 0| Comments 2349| Invitations 0|Offline
S
L
1
L
P
C
1
P
C
1
L
Points 1508 [Total 10989]| Ratings 4| Comments 1468| Invitations 0|Online
S
1
L
1
L
P
P
L
Points 823 [Total 13052]| Ratings 0| Comments 823| Invitations 0|Offline
S
L
Points 517 [Total 1916]| Ratings 0| Comments 517| Invitations 0|Offline
S
1
L
L
Points 483 [Total 6277]| Ratings 3| Comments 453| Invitations 0|Offline
S
Points 482 [Total 482]| Ratings 0| Comments 452| Invitations 3|Offline
S
Points 413 [Total 414]| Ratings 6| Comments 353| Invitations 0|Online
S
Points 243 [Total 243]| Ratings 1| Comments 233| Invitations 0|Offline
S
P
C
L
P
L
1
Points 48 [Total 6282]| Ratings 0| Comments 48| Invitations 0|Offline
S
Points 27 [Total 27]| Ratings 0| Comments 27| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.