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amberseal284Lv1
28 Sep 2019
-We know that price and quantity are directly related in supply, and inversely related in demand. But, what explains a downward sloping demand curve and an upward sloping supply curve?
-What determines market prices, assuming a competitive market and there are no artificial restrictions in the market?
-How does the market arrive at an equilibrium?
-We know that price and quantity are directly related in supply, and inversely related in demand. But, what explains a downward sloping demand curve and an upward sloping supply curve?
-What determines market prices, assuming a competitive market and there are no artificial restrictions in the market?
-How does the market arrive at an equilibrium?
Yusra AneesLv10
29 Sep 2019