Market quantity demanded measures the amount of the product that people in the market want to buy
A. per unit time, such as a day or week.
B. if the sellers in the market force them to buy.
C. if the government subsidizes their purchase.
D. per person.
Answer: A
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If consumers reduced their spending, what would happen to the interest rate and investment?
Given the budget line in the above figure, which of the following combinations of pizza and milk are affordable?
A) 0 pizzas, 12 gallons of milk B) 2 pizzas, 2 gallons of milk C) 4 pizzas, 4 gallons of milk D) All of the above combinations are affordable.
A profit-maximizing monopolistically competitive firm will expand output to the point where:
a. total revenue equals total cost. b. marginal revenue equals marginal cost. c. price equals average total cost. d. price equals marginal cost.
The rules of the game refer to:
a. any factor that facilitates production and exchange, such as tax laws and property rights. b. a gradual but consistent change in the price level until a fair price is attained c. the set of election laws that ensure that all elections are fair. d. the rules that a firm must follow in order to earn a profit. e. the requirement that households must supply labor to firms.