Refer to the above table. There is an excess quantity supplied of 2,000 units at a price of
A. $450.
B. $500.
C. $600.
D. $700.
Answer: C
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Which of the following statements is true of price fixing?
a. It represents a high level of competition in an industry. b. It is allowed only under the provisions of the Federal Trade Commission Act. c. It is, by definition, illegal, as there is no justification for it. d. It occurs only in perfectly competitive industries. e. It is legal in United States.
Which line might represent an aggregate demand curve?
Refer to the graph above.
A. 1
B. 2
C. 3
D. 4
How would a substantial appreciation in the European euro in the foreign exchange market affect the quantity of imports of European products by the U.S.? How would such an appreciation of the European euro affect travel by Americans to Europe?
What will be an ideal response?
When a regulator is concerned about pleasing different groups in order to keep employed, this is known as the
A) share-the-gains, share-the-pains theory. B) regulatory hypothesis. C) capture hypothesis. D) creative theory.