Now suppose competition among several market makers forces the spread down to $4 . How many goods are traded?
a. Four
b. Five
c. Six
d. Seven
a
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The total demand for goods and services at a given price level is also known as
A) autonomous consumption. B) the consumption function. C) equilibrium output. D) planned expenditures.
In the figure above, when production is 3 units with a price of $3, the consumer surplus equals
A) a + b. B) a + b + f + g. C) a + b + f + g + h + l. D) a + b + f + g + h + l + i + m.
Refer to Table 9-15. Looking at the table above, real average hourly earnings were equal to ________ in 2015
A) $9 B) $9.52 C) $10 D) $12
Dumping typically occurs as long as the foreign producer sells its output at a price
A) above its total costs. B) below its average total costs but above its average variable costs. C) below its average variable costs. D) above its average fixed costs but below its total variable costs.