When firms in the same industry locate in the same geographic region, it is known as dumping
a. True
b. False
Indicate whether the statement is true or false
False
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The above figure shows the market for winter jackets. In an effort to keep the nation warm, the president places a price ceiling of $100 in the market for winter jackets
When the price ceiling is in place and taking account of the resources lost in search, consumer surplus ________ and producer surplus ________ compared to the equilibrium before the price ceiling was imposed. A) decreases; increases B) decreases; decreases C) increases; increases D) increases; decreases E) does not change; increases
If a market is NOT in equilibrium, then which of the following is likely to occur?
A) The demand curve will shift to bring the market to equilibrium. B) The supply curve will shift to bring the market to equilibrium. C) The price will adjust to bring the market to equilibrium. D) Both A and B are correct.
Why might fiscal stimulus crowd out investment?
What will be an ideal response?
Whenever the supply of a product increases and the demand for the product decreases,
a. the quantity exchanged in the market will increase. b. equilibrium price will rise. c. the quantity exchanged in the market will decrease. d. equilibrium price will fall.