a previous module

MIKE7

Influence of Supply on Demand and Price

In a previous module, the topics of demand behavior and supply behavior were explored in isolation. We now explore demand and supply interactions. The setting in which this interaction occurs is called a market. The term “market” denotes the web of interactions between those who have commercial relationships, or the potential to have such relationships, with other buyers and sellers of similar commodities.

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Using your textbook, University online library resources, and the Internet, research supplier-induced demand. Write a paper explaining:

    • How price is set in a competitive market
  • The conditions that have to be met for market equilibrium to be established

Write a 2- to 3-page paper in Word format. Apply current APA standards for writing style to your work. All written assignments and responses should follow APA rules for attributing sources.

 

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a previous module was first posted on December 6, 2019 at 2:36 pm.
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