Questions tagged 'supply and demand'
2 questions
The point where p1 and q1 intersects represents
The intersection of P (Price) and Q (Quantity) typically represents the equilibrium price, which is the price at which the quantity of a product supplied equals the quantity demanded in the market. Th...
What factor might lead to the opening of several new pizzerias in a town?
What factors could contribute to the opening of several new pizzerias in a town? Could it be that the price of a slice of pizza has increased, the supply of pizza is inelastic, the cost of producing p...