Using the data in the table above, at the price of $80 a phone,
A) a shortage of 25,000 cellular telephones occurs.
B) a surplus of 80,000 cellular telephones occurs.
C) a surplus of 25,000 cellular telephones occurs.
D) a shortage of 55,000 cellular telephones occurs.
E) the market is in equilibrium.
C
Economics
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In this economic growth and production possibilities curve, economic growth is represented by the ______.
a. y-axis
b. x-axis
c. area between points A and E
d. area between the two curves
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Productive efficiency implies
What will be an ideal response?
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Consumers purchase products in ________ markets.
A. resource B. factor C. output D. input
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