The supply and demand model consists of the following three elements:
A)math,geometry,and simultaneous equations.
B)supply,demand,and production possibilities.
C)inputs,outputs,and production.
D)utility,profit maximization,and regulation.
E)price,quantity,and equilibrium.

Question

Quizplus · Accepted Answer

The supply and demand model consists of the elements of price, quantity, and equilibrium. It analyzes the relationship between the buyers' demand and the sellers' supply in determining market prices and the quantity produced.

The Supply and Demand Model Consists of the Following Three