This table shows the demand and supply schedule of a good.
According to the table shown, at a price of $2.00 quantity demanded:
A. exceeds quantity supplied and a shortage exists.
B. is less than quantity supplied and a shortage exists.
C. exceeds quantity supplied and a surplus exists.
D. is less than quantity supplied and a surplus exists.
D. is less than quantity supplied and a surplus exists.
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At an equilibrium price, quantity demanded
A. exceeds quantity supplied. B. equals quantity supplied. C. is less than quantity supplied. D. Any of the above is possible.
Which of the following statements best describes relative inflation?
a. If the currency of the country Currencia is experiencing relatively low inflation, then its buying power is decreasing and international investors will be less eager to hold it. b. If the currency of the country Currencia is experiencing relatively high inflation, then its buying power is increasing and international investors will be less eager to hold it. c. If the currency of the country Currencia is experiencing relatively high inflation, then its buying power is decreasing and international investors will be less eager to hold it. d. If the currency of the country Currencia is experiencing relatively high inflation, then its buying power is increasing and international investors will be less eager to hold it.
Refer to the above diagram. Marginal utility:
A) increases at an increasing rate. B) becomes zero at 4 units of output. C) is found by dividing total utility by the number of units purchased. D) cannot be calculated from the total utility information.
The tit-for-tat strategy only works for a prisoner's dilemma that:
A. is repeated. B. is played only one time. C. has only one Nash equilibrium. D. does not have a Nash equilibrium.