Refer to Figure 3-5. At a price of $5
A) there is a shortage of 4 units. B) there is a shortage of 6 units.
C) there is a scarcity of 4 units. D) there is a surplus of 4 units.
A
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An increase in input productivity will ________.
A. reduce aggregate demand B. reduce the equilibrium price level, assuming downward flexible prices. C. shift the aggregate supply curve leftward D. reduce the equilibrium real output
When a firm charges $4.95 instead of $5.00, what do economists call this pricing strategy?
A) indirect pricing B) cost-plus pricing C) odd pricing D) unusual pricing
A rational decision maker takes an action if and only if the marginal benefit exceeds the marginal cost
a. True b. False Indicate whether the statement is true or false
One reason fewer antitrust cases have been brought before the courts is:
A. globalization has changed the competitive landscape. B. more and more firms are platform businesses. C. goods prices have declined. D. consumers have lost political power.