Another name for a surplus is
A) excess quantity supplied.
B) excess quantity demanded.
C) equilibrium.
D) market clearing.
Answer: A
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Suppose Starbucks currently charges $3.25 per cup for its latte
If Starbucks lowers the price to $3.00 per cup, based on the demand curve in the figure above, its total revenue will ________ because the demand for Starbucks latte is ________ over this price range. A) increase; elastic B) decrease; elastic C) increase; inelastic D) increase; unit elastic E) not change; unit elastic
Over the two decades leading up the 2008 crisis, __________ interest rates meant that consumers could take on _____ debt without significantly increasing the amount of debt service they had to pay.
A. falling; more B. rising; more C. falling; less D. rising; less
The quantity of loanable funds supplied by firms is
A. independent of the interest rate. B. negatively related to the rate of return. C. inversely related to the interest rate. D. positively related to the interest rate.
Sam owns a candy factory and hires workers in a competitive labor market to pack cases of candy. The company's weekly output of cases of candy varies with the number of workers hired, as shown in the following table:Number ofworkersCases/week00116023103450458057006810 If each case sells for $3 more than the cost of the materials used in producing it, then the most Sam would pay the 5th worker is ________ per week.
A. $120 B. $390 C. $360 D. $330