What is the difference between a market equilibrium and a competitive market equilibrium?
What will be an ideal response?
A market equilibrium is a situation in which quantity demanded equals quantity supplied. A competitive market equilibrium is a market equilibrium with many buyers and sellers.
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Other things remaining the same, if the expected future exchange rate rises, the demand curve for U.S. dollars shifts ________ and the supply curve of U.S. dollars shifts ________
A) rightward; rightward B) rightward; leftward C) leftward; rightward D) leftward; leftward
According to the article, ________ are expected to contribute ________ to China's real GDP in 2008
A) exports and consumption; positively B) consumption and government spending; negatively C) exports and investment; negatively D) rental income and investment; negatively
The Solo Coal Mine is the only employer in the small town of Way out there. The market supply of coal miners is Qs = 0.02W - 400, where W is the annual wage of a coal miner and Q is the number of people who would accept employment as a coal miner. What is the coal mine's marginal expenditure function?
A. ME = 50Q + 10,000 B. ME = 100Q + 10,000 C. ME = 50Q + 20,000 D. ME = 100Q + 20,000
A cable television broadcast of a movie is
a. excludable and rival in consumption. b. excludable and not rival in consumption. c. not excludable and rival in consumption. d. not excludable and not rival in consumption.