Refer to the figure above. When the demand curve for flash drives is D and the supply curve of flash drives is S1, the equilibrium quantity is:
A) 10 units.
B) 20 units.
C) 40 units.
D) 60 units.
C
You might also like to view...
Hurricane Katrina damaged a large portion of oil refining and pipeline capacity in the Gulf coast states. In the market for gasoline,
A) the demand curve shifted to the left resulting in a decrease in the equilibrium price. B) the demand curve shifted to the right resulting in an increase in the equilibrium price. C) the supply curve shifted to the left resulting in an increase in the equilibrium price. D) the supply curve shifted to the right resulting in an increase in the equilibrium price.
If a straight line passes through the point x = 8 and y = 4 and also through the point x = 12 and y = 6, the slope of this line is
A) negative one half. B) one half. C) negative 4 divided by 2. D) two.
Short-run macroeconomic equilibrium occurs when
A) structural and frictional unemployment equal zero. B) the equilibrium lies on the long-run aggregate supply curve. C) aggregate demand and short-run aggregate supply intersect. D) A and B
The U.S. economy is not a perfectly competitive market. There are costs associated with negotiating contracts, enforcing agreements, taxes and less than perfectly competitive firms. Nevertheless, according to Wallis and North (1986), the U.S
economy has grown in the presence of these transaction costs and these costs have risen sharply as a percentage of GDP between 1890 and 1970. Indicate whether the statement is true or false