Imagine that you are a project manager who was just assigned to a new project. You received no additional information except that your primary constraint is time and the initial cost estimates should
October 18, 2020
lab report for Introduction to lab equipment and simple logic
October 18, 2020

Activity – Market Equilibrium, Price, and Quantity

Review the following video:

  • (5.47 Minutes)

After reviewing the video, attend the class and be prepared to explain:

  • How, mathematically, equilibrium quantity can be calculated, given the demand and supply functions for the firm.
  • How equilibrium price can be calculated.

Given equilibrium price and quantity, how changes in demand and or supply can bring about changes in equilibrium price and quantity.


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