Analysis of Equilibrium in the Market
1 pages
(346 words)
, Download 4
, Essay
"Analysis of Equilibrium in the Market" paper argues that a market is said to be at equilibrium when the supply of a good is equal to the demand of the good mostly attained when there are neither shortages nor surpluses in the market, thus, making prices remain stable.... ... ... ... With the recent health reports, the firms in the industry will maximize their profits in the short run while they cannot make bigger profits through alteration of the prices of milk, thus, in the short run, the firm may make super-normal profits....