At the Point Where There Is a Balance Between the Price

question 5

Short Answer

At the point where there is a balance between the price quantity supplied and the quantity demanded and the price is set to the marginal cost of production, there is __________ in the market.

---

Definitions:

Investment Return

signifies the gain or loss on an investment over a specified period, usually expressed as a percentage of the investment's cost.

Endowment Effect

A psychological phenomenon in which people value an owned object higher than a similar object they do not own.

Resale

The act of selling a previously bought product, typically used, to another buyer.

Status Quo Bias

The tendency for people to prefer things to stay the same by doing nothing or sticking with a decision made previously.