Elasticity Of Demand & Supply
Elasticity Of Demand & Supply – . Equilibrium (MKM C7/160-2; 149-51; 156-158) Equilibrium is a condition where, without changing one variable, the time achieved will last forever ( ). In markets, the equilibrium price “clears” the market, meaning that the quantity demanded by consumers equals the quantity supplied by producers. In general, economic theory recognizes four types of… Read More »