At a price of $4 in the above figure
A) the equilibrium quantity is 400 units.
B) there is a surplus of 200 units.
C) the quantity supplied is 400 units.
D) there is a shortage of 200 units.
D
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Compare perfect competition and monopolistic competition. In what ways are they similar? In what ways are they different?
What will be an ideal response?
Which of the following factors help to explain the sustained increases in health care spending in the United States, and which do not?
a. the additional paperwork, duplication, and waste generated in the U.S. health care system compared to systems in other countries b. the increasing costs of malpractice insurance and malpractice lawsuit settlements c. the number of uninsured patients receiving hospital treatment that could have been performed at a lower cost in doctors' offices d. the slow growth in labor productivity in health care compared to that in the economy as a whole e. the aging population f. increases in the cost of providing health care
The free-rider problem arises because:
A.) Private goods are not available. B.) Most public goods involve illegal activity. C.) People prefer private goods. D.) Public goods can be jointly consumed.
The minimum legal price that can be charged in a market is:
A. full economic price. B. a price floor. C. a price ceiling. D. non-pecuniary price.