Equilibrium in a market occurs when
A. quantity supplied and quantity demanded are equal at the market clearing price.
B. price is at its minimum.
C. demand and supply indicate a small surplus of a good.
D. the market price leads to a decrease in quantity demanded.
Answer: A
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Refer to Table 1-2. What is Julius's marginal benefit if he decides to stay open for three hours instead of two hours?
A) $15 B) $25 C) $65 D) $80
If the Kyoto Protocol requires developed countries to reduce emissions of greenhouse gases, but developing countries are not required to do so, why might a developed country still agree? Should it?
What will be an ideal response?
As the supply curve shifts to the right, the increase in quantity demanded will not depend on the shape of the demand curve
Indicate whether the statement is true or false
The poverty rate is
A. The percentage of the population that is counted as poor. B. An annual income of less than $29,000 for a family of four in 2014. C. The percentage of the population that receives food stamps. D. The income needed for an individual to be above the poverty line.