The equilibrium price is best defined as the price at which
a. demand is smaller than supply
b. suppliers want to supply more goods
c. demanders want to buy more goods
d. quantity demanded is equal to quantity supplied
e. the quantity demanded increases
D
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Explain the difference between a monopoly and a monopsony.
What will be an ideal response?
A firm sells 1000 units per week. It charges $70 per unit, the average variable costs are $25, and the average costs are $65 . At what price would the firm consider shutting down in the long run?
a. $10 b. $25 c. $65 d. $70
An exception to weighting stocks by market cap is the Dow Jones Industrial Average, which uses the stock price relative to the sum of the prices of all the stocks in the index
a. True b. False Indicate whether the statement is true or false
The equation of exchange is an accounting identity that
a. relates the money supply to nominal GDP. b. equates the demand for money with the supply of money. c. relates the money supply to real GDP. d. accounts use to balance assets and liabilities.