If, in the cobweb model, the demand curve has the same slope as the supply curve, what type of cycle will be generated?

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answerhappygod
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If, in the cobweb model, the demand curve has the same slope as the supply curve, what type of cycle will be generated?

Post by answerhappygod »

If, in the cobweb model, the demand curve has the same slope as
the supply curve, what type of cycle will be generated?
Question 41 options:
Constant price
Divergent cycle
There is not enough information to say
Convergent cycle
Price will cycle between a high and low price
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