The market price equals the equilibrium price if quantity demanded equals quantity supplied at the market price.
Answer the following statement true (T) or false (F)
True
Equilibrium occurs when quantity demanded and quantity supplied are equal. If at the market price, quantity demanded and quantity supplied are equal, the market price must be equal to the equilibrium price.
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The magnitude of the slope of the indifference curve between steak and lobster is called the marginal rate of substitution
Indicate whether the statement is true or false
The Sherman Antitrust Act:
a. prohibited restraint of trade. b. created the Federal Trade Commission. c. prohibited fraudulent advertising. d. regulated the railroads.
Capital deepening occurs when
a. the capital stock increases for a given labor force b. the capital stock decreases for a given labor force c. output decreases d. employment increases e. investment decreases
Non-Exclusive Tag
What will be an ideal response?