(SLP #2)

(SLP #2)

[Nina Owens]

[TUI University]

[ECO201]

(SLP #2)

1. What is the current "equilibrium" for your organization in terms of the amount of good or services provided and the price charged?

More people wanting coffee is an example. In the diagram ? this raises the equilibrium price from P1 to the higher P2. This raises the equilibrium quantity from Q1 to the higher Q2. A movement along the curve is described as a "change in the quantity demanded" to distinguish it from a "change in demand ?" that is ? a shift of the curve. In the example above ? there has been an ...