In a free market, the market price and quantity in the above figure will adjust to equilibrium values of
A) $1 per gallon and 50 million gallons.
B) $4 per gallon and 10 million gallons.
C) $2 per gallon and 60 million gallons.
D) $2 per gallon and 30 million gallons.
D
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What are some of the ways that real-world airlines price discriminate?
What will be an ideal response?
When the demand for an imperfect competitor's product is greater than it planned, the firm will
A) increase the price of the product until supply equals demand. B) meet the demand at its set price. C) reduce the price until supply equals demand. D) allow a shortage of the product to develop, without changing the product's price.
Steps in performing a cost-effectiveness analysis include all of these EXCEPT
a. ranking the alternative treatment options b. prioritizing the alternative treatment options c. calculating the ICER between each treatment option and the next most expensive one d. eliminate treatment alternatives that are strictly dominated
Deregulation has led to higher prices.
Answer the following statement true (T) or false (F)