| 11. | A disequilibrium occurs due to a non-equilibrium price giving a lack of balance between supply and demand.
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| 12. | This shifts the short-run supply schedule to the right, and a new short-run equilibrium price will be obtained.
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| 13. | Property P1 is satisfied, because at the equilibrium price the amount supplied is equal to the amount demanded.
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| 14. | In theory, the market is able to coordinate itself when a new equilibrium price and quantity is reached.
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| 15. | However, if this short-run equilibrium price is sufficiently high, production will be very profitable, and capacity will increase.
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| 16. | The gap in the marginal revenue curve means that marginal costs can fluctuate without changing equilibrium price and quantity.
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| 17. | Likewise, in the supply-demand diagram, producer surplus is the area below the equilibrium price but above the supply curve.
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| 18. | "About $ 5 seems to be the equilibrium price for world supply and demand, and don't expect much more ."
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| 19. | One could then create a system of equilibrium prices for the critical variables involved in production, to explain price relationships.
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| 20. | For example, suppose that " P " is the equilibrium price in a simple market, determined by supply and demand.
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