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Unformatted text preview: fininte level HOW MANY The quantity where supply and demands intersect (1,000) FOR WHO All those people whos little demand curves make up the market demand curve above .80 cents (intersection point) o Increase in demand will increase market price and increase quantity o Decrease in input cost increase in supply o Intersection of the demand curve and supply curve EQUILLIBRIUM [equal and balance] when there is no longer any forces acting on it to change. o It is ALWAYS the quantity sold is the quantity bought. Demand and supply determines labor services as well 15:01 15:01...
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This note was uploaded on 01/19/2011 for the course ECON 2005 taught by Professor Zirkle during the Fall '07 term at Virginia Tech.
- Fall '07
- Supply And Demand