Use the following market data to answer the question below.Price per UnitQuantity Purchased by ConsumerQuantity Sold by Producer$52,0000101,800300151,600600201,400900251,2001,200301,0001,500In the market shown in the table, the equilibrium quantity is
A. 1,400.
B. 1,200.
C. 900.
D. 1,600.
Answer: B
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In a sequential contestable market game
A) a small number of firms can behave like firms in perfect competition. B) the outcome is always a monopoly equilibrium. C) the dominant firm always makes a monopoly profit, while other firms make zero economic profits. D) a firm that enters the market first is protected from potential entrants by natural barriers.
In the strategic view of bargaining the outcome depends on
a. Who makes the first move b. Who can commit to a position c. Whether or not the other party can make a countermove d. All of the above
According to the figure shown, if Adidas charges a low price, then Nike should:
A. leave the market. B. charge a low price. C. charge a high price. D. give an ultimatum.
According to the text, the federal government spends the most taxpayer-provided funds regulating which area of the economy?
A. consumer safety and health B. the environment C. finance and banking D. transportation