Answer to Question 1
The price of steel will rise. As it rises, the quantity of steel supplied will rise and the quantity of steel demanded will fall. Eventually, at the new market equilibrium price, quantity demanded will be equal to quantity supplied. The market will be in equilibrium.
Answer to Question 2
Total utility is the total amount of satisfaction obtained from the consumption of a
good or a service. Marginal utility is the additional satisfaction gained by the
consumption of one more unit of a good or service.
Volvulus. A volvulus results when the small intestine twists, causing an obstruction that can lead t
Using Controls to Monitor Results
Testing the arterial supply to the lower extremities
The results from West and Crook's study of memory for telephone numbers
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Results and interpretation of a mixed copolymer