Which of the following is true about the market equilibrium?
a. As the price increases, the quantity demanded and the quantity supplied increases.
b. As the price increases, the quantity demanded and the quantity supplied decreases.
c. As the price increases, the quantity demanded increases and the quantity supplied decreases.
d. As the price increases, the quantity demanded decreases and the quantity supplied increases.
e. As the price increases, neither the quantity demanded nor quantity supplied change.
Question 2
When the price of a good in a market is above equilibrium:
a. the quantity supplied exceeds the quantity demanded.
b. a surplus is observed.
c. the price will fall in the near future.
d. all of the above.
A comparison of gradualism and punctuated equilibrium.
Atmospheric pressure decreases as altitude increases.
Wilson and Simberloff's experiments on the equilibrium model of biogeography.
True Forget-Me-Not
Main Hall, Trajan's Market
Application of the Hardy–Weinberg equilibrium