Compare and contrast the graphs used in the microeconomic supply and demand model with those used...

Compare and contrast the graphs used in the microeconomic supply and demand model with those used in the economic fluctuations model.

Expert Solution

Comparing and contrasting:

1) The supply & demand model is a micro model, whereas the fluctuation model is macro model.

2) The supply and demand model sets the relationship between price and quantity, whereas the fluctuation model shows relationship between economic growth and period of time.

3) Since both the supply and demand are line segments, the relationship could be predicted earlier (like the increasing price decreases the quantity demand); in case of fluctuation model such prediction can’t be done (like there is no fixed time of expansion or recession from cycle to cycle, but it differs)

Rahul Sunny answered 2 years ago

compare and contrast supply and demand considerations for over-the-road transportation.

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