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Supply and Demand Graph

Rockylightning
Posts: 2,862
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6/16/2011 12:46:38 PM
Posted: 5 years ago
On the supply and demand graph (you know the one with the X that marks the price?) what happens if the price lowers demand? Does the price fall too?
darkkermit
Posts: 11,204
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6/16/2011 1:41:13 PM
Posted: 5 years ago
At 6/16/2011 12:46:38 PM, Rockylightning wrote:
On the supply and demand graph (you know the one with the X that marks the price?) what happens if the price lowers demand? Does the price fall too?

If the price is above where the supply and demand curve intersect, then there is a surplus. If the price is below where the supply and demand curve intersect, then there are shortages.

In the case of price are lower then where supply and demand interesect, then there will be shortages. However, it doesn't make sense to say if a price is lower than demand, since for each price there is a corresponding quantity sold.
Quantity Demanded= f(Price).
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Ore_Ele
Posts: 25,980
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6/16/2011 1:45:48 PM
Posted: 5 years ago
At 6/16/2011 12:46:38 PM, Rockylightning wrote:
On the supply and demand graph (you know the one with the X that marks the price?) what happens if the price lowers demand? Does the price fall too?

On the graph, for any given price, you have two points. The point of Supply, and the point of Demand. If at that price, the demand is lower than the supply, you'll have vendors with material left on their hands, and they'll have to lower the price to sell (selling a couch of less money is better than holding it and making no money).
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smc_gamer
Posts: 48
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6/18/2011 8:31:32 AM
Posted: 5 years ago
At 6/16/2011 1:45:48 PM, OreEle wrote:
On the graph, for any given price, you have two points. The point of Supply, and the point of Demand. If at that price, the demand is lower than the supply, you'll have vendors with material left on their hands, and they'll have to lower the price to sell (selling a couch of less money is better than holding it and making no money).

Which is an excellent argument in support of capitalism. :)
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-Hobbes
askbob
Posts: 7,254
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6/18/2011 10:18:58 AM
Posted: 5 years ago
At 6/16/2011 12:46:38 PM, Rockylightning wrote:
On the supply and demand graph (you know the one with the X that marks the price?) what happens if the price lowers demand? Does the price fall too?

no that's circular reasoning. Only a shift in supply and demand can shift the graph.

The change in price is a reflection of the shift in the supply/demand and not a catalyst for change.

1. the supply line will shift to the left causing a higher P1(new price).

2. Previous consumption of the good will fade and thus the new consumption number will be lower (S1 will be to the left of S0)
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askbob
Posts: 7,254
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6/18/2011 10:20:30 AM
Posted: 5 years ago
In other words the price changes as a result of changes in supply in demand.
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askbob
Posts: 7,254
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6/18/2011 10:22:56 AM
Posted: 5 years ago
At 6/16/2011 1:45:48 PM, OreEle wrote:
At 6/16/2011 12:46:38 PM, Rockylightning wrote:
On the supply and demand graph (you know the one with the X that marks the price?) what happens if the price lowers demand? Does the price fall too?

On the graph, for any given price, you have two points. The point of Supply, and the point of Demand. If at that price, the demand is lower than the supply, you'll have vendors with material left on their hands, and they'll have to lower the price to sell (selling a couch of less money is better than holding it and making no money).

See that's where the guvanment needs to step in and do cash for couches and essentially tax all of the working population and redistribute those funds into new couches because we need to get rid of the surplus and fix the economy.

(sarcasm if you can't tell)
Me -Phil left the site in my charge. I have a recorded phone conversation to prove it.
kohai -If you're the owner, then do something useful like ip block him and get us away from juggle and on a dofferent host!
Me -haha you apparently don't know my history
Kohai - Maybe not, but that doesn't matter! You shoukd still listen to your community and quit being a tyrrant!
Me - i was being completely sarcastic
Kohai - then u misrepresented yourself by impersonating the owner—a violation of the tos
Rockylightning
Posts: 2,862
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6/18/2011 11:47:23 AM
Posted: 5 years ago
At 6/18/2011 10:22:56 AM, askbob wrote:
At 6/16/2011 1:45:48 PM, OreEle wrote:
At 6/16/2011 12:46:38 PM, Rockylightning wrote:
On the supply and demand graph (you know the one with the X that marks the price?) what happens if the price lowers demand? Does the price fall too?

On the graph, for any given price, you have two points. The point of Supply, and the point of Demand. If at that price, the demand is lower than the supply, you'll have vendors with material left on their hands, and they'll have to lower the price to sell (selling a couch of less money is better than holding it and making no money).

See that's where the guvanment needs to step in and do cash for couches and essentially tax all of the working population and redistribute those funds into new couches because we need to get rid of the surplus and fix the economy.

(sarcasm if you can't tell)

We need to invade various middle eastern countries to lower the price of couches. Especially after 7/11 where terrorists burned down a Bed Bath And Beyond.