At the equilibrium price,
A. quantity demanded exceeds quantity supplied.
B. quantity demanded equals quantity supplied.
C. quantity demanded is unrelated to quantity supplied.
D. quantity demanded is less than quantity supplied.
Answer: B
You might also like to view...
A firm is currently producing at a level where its MC = 10 and its MR = 5. We can conclude that this firm is
a. profit maximizing. b. under-producing. c. over-producing. d. no definite conclusion can be made about the firm's level of production.
The shifting of trade to countries in a regional group at the expense of trade with countries not in the group is known as trade internalization.
a. true b. false
Refer to the information provided in Figure 13.9 below to answer the question(s) that follow. 
Figure 13.9 Refer to Figure 13.9. If Ohio Edison engages in rent-seeking behavior to maintain their monopoly, the true net social cost of monopoly is
A. AGB and the portion of area FGBE that pays for the rent-seeking behavior. B. FAC. C. FGBC. D. BEC and the portion of area FGBE that pays for the rent-seeking behavior.
In the area of market signaling, education is a strong signal in the job market because
A. education is costly to obtain. B. education is less costly to obtain for highly productive individuals who are also likely to be highly productive in the work place. C. firms can easily verify your level of education. D. it tells employers that you have gained skills that will be useful in the work place.