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.
Results of selective breeding for oil content in corn plants.
Blood supply to the pituitary gland
The Hepatic Portal Blood Supply The liver receives water, minerals, and nutrients from the digestive
Membership in this subculture is not easily awarded. Not only must high-steel ironworkers prove that ...
Monitoring and Following Up on Laboratory Test Results
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...