You have new items in your feed. Click to view.
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
26,557,088 questions answered
Popular Conversations
A student is comparing and contrasting two dramas and plans to write ...
Weegy: B. point to point. User: Which sentence is written with parallel structure? A. It was both a unique play ...
12/3/2016 10:02:47 AM| 3 Answers
The characteristic that results from a monohybrid cross is the _____ ...
Weegy: The characteristic that results from a monohybrid cross is the recessive trait.
12/3/2016 1:12:13 AM| 1 Answers
Which of the following is an example of genetic drift? User: Which ...
Weegy: d. Warm temperatures cause green, brown, and black beetles to start reproducing earlier than normal. User: ...
12/3/2016 1:54:02 AM| 1 Answers
The evolution of the eohippus into the modern day horse is an example ...
Weegy: The evolution of the eohippus into the modern day horse is an example of Character change. User: Which of the ...
12/3/2016 2:26:24 AM| 1 Answers
Select all of the answers that apply. What are the possible causes ...
Weegy: Two prominent theories of extinction are climate change and an asteroid hitting the Earth. User: possibly ...
12/3/2016 2:32:14 AM| 1 Answers
Weegy Stuff
S
P
Points 147 [Total 419] Ratings 1 Comments 137 Invitations 0 Offline
S
Points 23 [Total 23] Ratings 0 Comments 23 Invitations 0 Offline
S
P
P
Points 21 [Total 700] Ratings 0 Comments 21 Invitations 0 Offline
S
P
Points 18 [Total 450] Ratings 0 Comments 18 Invitations 0 Offline
S
Points 16 [Total 292] Ratings 0 Comments 16 Invitations 0 Offline
S
Points 10 [Total 32] Ratings 0 Comments 0 Invitations 1 Offline
S
Points 8 [Total 8] Ratings 0 Comments 8 Invitations 0 Offline
S
Points 0 [Total 0] Ratings 0 Comments 0 Invitations 0 Offline
S
Points 0 [Total 0] Ratings 0 Comments 0 Invitations 0 Offline
S
Points 0 [Total 0] Ratings 0 Comments 0 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.