Explain What Happens When the Demand Curve Intersects with the Supply

question 88

Essay

Explain what happens when the demand curve intersects with the supply curve.

---

Definitions:

Probability Density Function

A function that describes the likelihood of finding a continuous random variable within a particular range of values.

Random Variable

A variable with values that are contingent upon the results of a stochastic event.

Uniform Distribution

A type of probability distribution where all outcomes are equally likely to occur.

Continuous Random Variable

A variable that can take an infinite number of possible values in a continuum within a given range, such as any real number between two points.