Lecture
Market Equilibria: Demand and Supply
Description
This lecture covers the calculation of market equilibria in a perfectly competitive market for a normal good, analyzing the negative slope of the demand curve and the positive slope of the supply curve. It explores market outcomes at different prices and scenarios such as free market, upper and lower price limits, and changes in demand. The equilibrium quantity and price are determined for various cases, providing a comprehensive understanding of market dynamics.
Official source
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