Which of the following is achieved when the supply and demand curves for an item meet and cross?

a. Marginal utility
b. Equilibrium
c. Imperfect competition
d. Surplus


Answer: B

Philosophy & Belief

You might also like to view...

Technician A says some semiautomatic temperature control (SATC) systems are operated by using an engine vacuum. Technician B says some automatic temperature control (ATC) system is operated electronically by a digital microprocessor. Who is correct?

A. Technician A only B. Technician B only C. Both A and B D. Neither A nor B

Philosophy & Belief

Where "F" stands for "Fred likes ice cream" and "L" stands for "Lou likes ice cream," the statement "Neither Fred nor Lou likes ice cream" is best symbolized by

A. ~F ? ~L. B. ~F • ~L. C. ~F ? ~L. D. ~(F • L).

Philosophy & Belief

Why did the Sioux people set up their camps in circles?

a. To signify the circular cosmic natural balance b. To signify the circular path of life c. To signify the cycle of rebirth d. To signify the circular path to salvation

Philosophy & Belief

Which of the following is an objective claim?

A. In 2013 Miguel Cabrera hit the most home runs on a 3-0 count. B. Fallon tells better jokes than Colbert. C. Opera would be easier to listen to if they'd leave out the singing. D. Golf is a waste of time.

Philosophy & Belief