When market price is higher than equilibrium price, quantity demanded is ______ quantity supplied.
Fill in the blank(s) with the appropriate word(s).
less than
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If Ed Sike (who you met in Chapter 8 ) lowers ticket prices to a point where the number of tickets demanded is greater than the number of seats available,
A) Ed will be in a good position to grant favors to his friends. B) net revenue will be negative. C) net revenue will be positive but not necessarily at the maximum level. D) resources will not be allocated efficiently. E) total revenue will be maximized.
Dating the start of falling labor productivity growth in 1973 is very suggestive of this explanation for it: ________ energy prices and ________ use of energy per worker
A) higher, decreased B) higher, increased C) lower, decreased D) lower, increased
Foreign direct investment implies that the investor obtains ________ share in a foreign company's ownership
A) less than 1 percent B) less than 5 percent C) less than 10 percent D) none of the above
PriceQuantity DemandedQuantity Supplied$02000$115040$210080$350120$40160 Refer to the table. In this market, the equilibrium price
A. is equal to exactly $2. B. does not exist. C. is between $2 and $3. D. is greater than $4.