Examlex
If both the supply of and the demand for a good increase simultaneously, the equilibrium price will
Firms Exit
This occurs when businesses cease operations and leave a market, typically due to factors like unprofitability, competitive pressures, or changing market conditions.
Competitive Price-searcher
This refers to a market situation where companies set their prices based on competition and market conditions, aiming to attract customers by offering better deals than their rivals.
Long-run Equilibrium
A state in which supply and demand balance over the long term, and all factors of production and economic variables have fully adjusted.
Demand Curve
A chart depicting how the cost of an item correlates with the amount of that item buyers are prepared to purchase.
Q26: When LeBron James rejoined the Cleveland Cavaliers
Q78: (Figure: Supply and Demand for Shoes) If
Q113: Econoland and Macroland are neighboring countries. Which
Q157: Joe fixes cars in his driveway to
Q216: Which action will NOT shift a production
Q231: (Figure: Ships and Autos in Countries A
Q291: (Figure: Determining Surplus) In the graph, the
Q304: For a country to experience economic growth,
Q311: Suppose that a customer's willingness-to-pay for a
Q338: Minimum wage laws<br>A) create a price floor