At market equilibrium
A) shortages are greater than surpluses. B) surpluses are greater than shortages.
C) quantity demanded equals quantity supplied. D) demand equals supply.
C
You might also like to view...
The long-run aggregate supply curve is upward sloping
Indicate whether the statement is true or false
Social Security retirement benefits are increased automatically each year at the rate of inflation
Indicate whether the statement is true or false
Because each oligopolist cares about its own profit rather than the collective profit of all the oligopolists together,
a. they are unable to maintain the same degree of monopoly power enjoyed by a monopolist. b. each firm's profit always ends up being zero. c. society is worse off as a result. d. Both a and c are correct.
A firm ________ in the short-run has an incentive to expand its long-run scale of operation.
A. breaking even B. earning positive profits C. making a loss D. that shuts down