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Even though Milgram's shock experiments created a powerful situational setting with clear-cut demands,not all participants administered shock to the maximum level.These findings suggest that
Equilibrium Quantity
The quantity of goods or services at which demand equals supply, and there is no tendency for the market price to change.
Equilibrium Price
The price at which the quantity of a good demanded equals the quantity supplied, leading to a stable market condition.
Demand
The amount of a product or service that buyers are ready and capable of buying at different price points.
Public Utilities
Companies that provide essential services such as water, electricity, and telecommunications to the public, often under government regulation.
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