Supply, Demand, & Equilibrium (MBA Buster)

So, you think you know supply and demand?

Pop quiz. Let's say you sell giant, fuel-inefficient SUV's for a living. What happens to the demand curve when gas prices double?

The demand curve shifts inward, right? Right. That one's easy.

Now, let's say you lower the price of your gas guzzlers to compensate for high gas prices. What happens to the demand curve then?

If you said the demand curve shifts back outward, you're wrong!

But fear not. This book will give you the right answer to this question and make you a regular expert on supply and demand.

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This book is part of the MBA Buster series. Whether you're getting your MBA from a university or have decided to go it alone, the MBA Buster series will: break a concept down into layman's terms, explain what you need to know for a test, and demonstrate how to apply the concept to the real world.