Equilibrium of supply and demand

graph explanation, look at excess supply and excess demand, how increasing demand will lead to an increase in price and an increase in supply will lead to a decrease of the price. This will always converge to the equilibrium point of the graph.

AB
Answered by Alex B. Economics tutor

2896 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

How do I provide a good evaluation point for something I agree with?


To what extent is (third degree) price discrimination beneficial to consumers and producers?


How many diagrams is it best to use in an extended essay?


Integrate the function f(x) = (1/6)*x^3 + 1/(3*x^2) with respect to x, between x = 1 and x = 3^(1/2), giving your answer in the form a + b*3^(1/2) where a and b are constants to be determined.


We're here to help

contact us iconContact ustelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

MyTutor is part of the IXL family of brands:

© 2025 by IXL Learning