There are never shortages or surpluses when the price in a market is equal to the equilibrium price for the market.
Answer the following statement true (T) or false (F)
True
At equilibrium, the quantity demanded is equal to the quantity supplied.
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A decrease in spending on new homes will, other things equal
A) increase aggregate demand. B) increase aggregate supply. C) decrease aggregate demand. D) decrease aggregate supply.
The term "fiduciary" comes from the Latin fiducia, which means
A) value. B) gold. C) money. D) trust or confidence.
A rational individual would rather receive $1,000 today than receive $1,100 in one year if the applicable nominal interest rate was 12%
a. True b. False Indicate whether the statement is true or false
In the short run, if a firm's total variable cost curve lies above its total revenue curve at all possible output levels, the firm's minimum short-run loss
a. equals its total fixed cost b. equals zero c. occurs at the maximum point of the total revenue curve d. occurs at the maximum point of its marginal revenue curve e. occurs at the minimum point of its marginal cost curve