Refer to the information provided in Figure 15.6 below to answer the question(s) that follow.
Figure 15.6Refer to Figure 15.6. If Trollio's T-shirts is in long-run equilibrium, it is producing ________ silk-screened T-shirts and selling each T-shirt at a price of ________.
A. 50; $10
B. 20; $5
C. 50; $16
D. 60; $15
Answer: C
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Indicate whether the statement is true or false
Which of the following statements is not true according to the National Center for Health Statistics?
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A. Advocate redistributing income from Joseph to Rita B. Advocate redistributing income from Rita to Joseph C. Be content with this distribution of income between Rita and Joseph D. Argue that any redistribution of income between them would increase total utility
If the price of bonds is set ________ the equilibrium price, the quantity of bonds demanded exceeds the quantity of bonds supplied, a condition called excess ________
A) above; demand B) above; supply C) below; demand D) below; supply