Given the following diagram:
If the actual market price were fixed at $6 per unit in the above diagram
A. There would be a shortage of 20 units.
B. There would be a surplus of 20 units.
C. There would be a shortage of 40 units.
D. There would be a surplus of 40 units.
Answer: A
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If we compare the United States to France, we see that potential GDP per person in France is ________ that in the United States because the French tax wedge is ________ the U.S. tax wedge
A) greater than; larger than B) the same as; the same as C) greater than; smaller than D) less than; smaller than E) less than; larger than
The HPAE focused their education spending on the university level to better develop high technology workers
Indicate whether the statement is true or false
Which of the following could create a cost advantage for a? monopoly?
A) better technology B) lower friction due to better organization C) standardization D) All of the above
Which of the following statements about this graph is accurate?
a. MD2 has a lower RGDP than MD3
b. MD1 has a higher RGDP than MD2
c. MD3 has a lower price level than MD1.
d. MD1 has a higher price level than MD2.