On a supply-and-demand diagram, quantity demanded equals quantity supplied

A) only at the single equilibrium price.
B) at every price at or above the equilibrium price.
C) at every price at or below the equilibrium price.
D) at every price.


A

Economics

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For a monopoly, marginal revenue for all units greater than 1 is always:

A. less than price because of the price effect. B. more than price because of the price effect. C. more than price because of the quantity effect. D. less than price because of the quantity effect.

Economics

Which of the following is an example of an actual cartel?

a. the three largest cereal producers in the United States b. General Motors, Ford, and Chrysler c. the Organization of Petroleum Exporting Countries (OPEC) d. the three major U.S. cigarette manufacturers e. U.S. television networks -- ABC, NBC, CBS, and Fox

Economics

If Danielle sells 300 wrist bands for $0.50 each, her total revenues are

a. $150. b. $299.50. c. $300. d. $600.

Economics

In a market system, which of the following will eliminate high-cost producers, and allow only the low-cost producers to survive?

A. Competition B. Money C. A sovereign government D. Specialization

Economics