If the supply curve is less steeply sloped than the demand curve, prices above (below) equilibrium will tend to get further from equilibrium. We refer to such an equilibrium as [...].
If the supply curve is less steeply sloped than the demand curve, prices above (below) equilibrium will tend to get further from equilibrium. We refer to such an equilibrium as [...].
If the supply curve is less steeply sloped than the demand curve, prices above (below) equilibrium will tend to get further from equilibrium. We refer to such an equilibrium as [...].
Answer
unstable
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Open it If the supply curve is less steeply sloped than the demand curve, prices above (below) equilibrium will tend to get further from equilibrium. We refer to such an equilibrium as unstable.
Original toplevel document (pdf)
owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p16
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