(3) The Detailed Market Adjustment Story
Market Adjustment, Shortage, Surplus, Demand Curve Shifts, Supply Curve Shifts
This explains in great detail the full story of how a market adjusts as a result of a shift in the demand or supply curve. The viewer is given the option to choose a leftward or rightward shift in the demand or supply curve
Crane, Steven E., "(3) The Detailed Market Adjustment Story" (2011). Principles of Microeconomics. Paper 12.
Up to 11:19 depending on user selection
Provides an understanding of the market adjustment story. Ability to explain how markets move from one equilibrium situation to another.
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