Table 9.3 represents 3 markets for used stereos. Which of the markets in Table 14.3 are in equilibrium?
A. 1 only
B. 2 only
C. 3 only
D. None of these
Answer: D
You might also like to view...
Mike has just been laid off from his construction job because consumers are not purchasing new homes because of the recession. Mike would be considered to be part of
A) structural unemployment. B) cyclical unemployment. C) seasonal unemployment. D) frictional unemployment.
Domestic demand for a good is QD = 3000 - 25P. The domestic supply of the good is QS = 20P. Foreign producers can supply any quantity at a price (P) of $30
a. What is the domestic equilibrium price and quantity? b. At this domestic equilibrium price, how much of the good will be supplied by domestic producers and how much by foreign producers?
The additional cost associated with the hiring of one more unit of labor is known as the
A) marginal physical product of labor. B) marginal revenue product of labor. C) marginal factor cost of labor. D) marginal utility of labor.
What is a location rent? Give an example of a location rent