When the market price is established where demand and supply curves intersect:
A) consumer buying tends to exceed the quantity producers supply.
B) the quantity consumers demand generally fall short of the quantity producers supply.
C) the quantity demanded and the quantity supplied are equal.
D) all of the above will result.
Answer: C) the quantity demanded and the quantity supplied are equal.
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a. color televisions b. breakfast cereal c. legal services d. corn e. notebook computers
We infer the distribution of income from the distribution of abilities
Indicate whether the statement is true or false
The largest part of gross domestic product in the United States is
a. investment. b. consumption. c. government expenditure. d. trade balance.
When large oligopolistic firms negotiate with the unions of their employees, the resulting bargaining process closely resembles
a. perfect competition. b. a dual labor market. c. monopolistic competition. d. bilateral monopoly.