AS-Level Economics Video 6 - Equilibrium Price and Quantity in a Market

[@zanstunner8786]

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[@saurtykamini4234]

Hello Sir Thank you for all the videos. these have been quite helpful to me to understand what I did not understand in class. For the last exampIe, I would like to know if the curves for the different situations should be plotted on the same graph. And I would like to see these curves how they are plotted. Thank you!

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[@dhruvsingh97]

Thanks alot Sir. Could you please upload a video about productive and allocative efficiency also ? I would be very greatful.

[@kjparker28]

I would see this as more people willing to pay higher prices for the same product. Therefore pushing the price up as supply is outstripped by demand, This acts as a trigger for suppliers to supply more at a higher price to reap the bigger profits until the price moves to the equilibrium price. The suppliers cost per unit would remain constant or reduce due to economies of scale. This would continue until that supplier maxes out his capacity to produce.

[@daemonmage7274]

Hi, Wouldn't an increase in incomes lead to a decrease in suppliers ability to supply; since their production costs would increase, therefore having to either spend less on workers, thereby reducing their efficiency and making them supply less, or producing less in order to reduce the excess supply? Thank you, Ryan. P.s, Keep up the videos!

[@sanjokgurung9409]

Very helpful video.

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[@MrOhWhatTheHeck]

Great video, very helpful. I would have thought however that ketchup would be a complementary good to mustard, and not a substitute. If this was the case, demand for ketchup may have risen.

[@beenfordkumwenda5632]

true. I think so too.

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[@federicomedina1692]

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Its very helpful. Thanks

[@nthperson]

A serious debate exists over whether macroeconomics is useful to policymakers. The reason is that the very concept of general equilibrium is detached from what happens in the real world. The example raised here regarding "housing" requires control over variables (in order to maintain a "all other things being equal" static state). The real world works quite differently. There are many variables, many externalities. When government regulations increase the labor costs of producing housing, housing developers find ways to reduce the labor cost component. We get housing units produced under controlled conditions in factories and delivered to sites for assembly. We get attached housing or multi-level residential buildings in order to counter the rising cost of land acquisition. We also get sprawling development in order to escape both high land costs and increases in regulatory compliance.

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[@Beyondthe_vlog]

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[@cookiesandcream96]

Thx for the Lesson :)

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[@tuluvota]

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[@khybersafi6615]

d

[@ZulaikhaMemon]

(Y)

[@annsmith9563]

I'd still have ketchup though

[@ricksanchez1614]

thank you