A price below the equilibrium price will:
A) result in pressure for price to rise.
B) result in a surplus.
C) never be the case.
D) result in pressure for price to fall.
Ans: A) result in pressure for price to rise.
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In the demand and supply model of the money market, the
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A firm that generates zero economic profit usually has
A) negative business profit. B) zero business profit. C) positive business profit. D) business profit equal to half the total revenue.
Which of the following is more of a short-run than a long-run goal?
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