File:Economics demand and supply curves.jpg
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Summary
| Description |
English: The demand curve (D) and the supply curve (S) intersect at the equilibrium point E, with a price of $1.40 and a quantity of 600. The equilibrium is the only price where quantity demanded is equal to quantity supplied. At a price above equilibrium like $1.80, quantity supplied exceeds the quantity demanded, so there is excess supply. At a price below equilibrium such as $1.20, quantity demanded exceeds quantity supplied, so there is excess demand. |
| Date | |
| Source | https://openstax.org/details/books/principles-microeconomics (CNX_Econ_C03_003.jpg) |
| Author | OpenStax College |
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File history
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| Date/Time | Thumbnail | Dimensions | User | Comment | |
|---|---|---|---|---|---|
| current | 01:14, 7 September 2017 | | 404 × 284 (104 KB) | Dave Braunschweig | User created page with UploadWizard |
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