Examlex
In a certain bird species, clutch size (the number of eggs laid by a female at one time) ranges from four to eight, and the most frequent clutch size is six.This phenomenon is an example of
New Equilibrium Price
The price at which the market demand equals the market supply after a shift in supply or demand has occurred, creating a new point of balance.
Demand Equation
A mathematical formula that represents the relationship between the quantity of a good or service demanded and various factors affecting it, such as price and income.
Equilibrium Quantity
The quantity of goods supplied that is exactly equal to the quantity of goods demanded at the market price.
Consumer Expectations
The beliefs or anticipations consumers have about future prices, product quality, service, and other factors that influence their purchasing decisions.
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