Using the above table, the market clearing price is ________ and equilibrium quantity is ________
A) $55; 80
B) $60; 150
C) $70; 150
D) $150; 150
B
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Which of the following is most likely to happen if the Federal Trade Commission (FTC) wins a suit against alleged violators of antitrust law?
a. The FTC will receive compensation up to three times the damage caused. b. The FTC will not be able to impose substantial penalties. c. The FTC will force firms to break up through dissolution. d. The FTC will force firms to merge together. e. The FTC will file criminal actions that may result in fines but not prison sentences.
A market demand curve is found by adding the individual prices for each quantity demanded
a. True b. False Indicate whether the statement is true or false
A move from J to K represents
A. a change in quantity supplied.
B. no change in supply.
C. an increase in supply.
D. a decrease in supply.
Recall the Application about how having car insurance affects driving behavior to answer the following question(s).Recall the Application. The theory of moral hazard suggests that uninsured drivers drive less carefully than insured drivers.
Answer the following statement true (T) or false (F)