The graph shown best represents:
A. a non-binding price ceiling.
B. a non-binding price floor.
C. a missing market.
D. a market for an inferior good.
B. a non-binding price floor.
You might also like to view...
In a monopolistically competitive market there are
A) many firms. B) one firm. C) a very small number of firms. D) two firms.
Refer to Figure 3-4. If the current market price is $10, the market will achieve equilibrium by
A) a price decrease, decreasing the supply and increasing the demand. B) a price increase, increasing the quantity supplied and decreasing the quantity demanded. C) a price decrease, decreasing the quantity supplied and increasing the quantity demanded. D) a price increase, increasing the supply and decreasing the demand.
National defense is an example of a public good.
Answer the following statement true (T) or false (F)
Which of the following is an example of a capital good?
A. A metal-stamping machine used to produce cars sold to an automaker B. A new CD player sold to a teenager C. A new CD player sold to an automaker for installation in a car D. A new car sold to a family