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practicingPracticing
Ludwik Kowalski; 2/17/2009
Department of Mathematical Sciences
Montclair State University, Montclair, NJ, USA
Introduction
Submitting a total html document. It has a link to a document at CF documet at MSU plus an image from the same folder. Will this be accepted as my OpEdNews diary?
1) Just plain text:
There seems to be a controversy between what introductory textbooks say about the law of supply and demand and how they predict prevailing prices in a classical market. Quoting Adam Smith, they say that market participants are expected to be selfish; each producer wants the maximum possible profit and each consumer wants to buy a given kind of product at the lowest possible price. That corresponds to common knowledge.
But then the authors of textbooks show how market equilibrium prices, for different products supplied by competing producers, establish themselves under stable market conditions. They draw the line a line of the law-of-demand and the line of the law-of- supply on the same graph. In other words, the supply and demand are expected to be equal. Then they say that the equilibrium price, for a given product, is at the point at which the two lines intersect each other. I was surprised to discover that a supplier's most profitable price may be either above or below the interception point price.
2) Asking for a picture from my MSU sever. It should appear below.
Bazhutov’s cell. Dots in the right side of the aquarium-like vessel represent bubbles formed in cold water.
3) Link to a file at my MSU server should appear below. Will it work from OEN?
