Refer to the figure below:
If the price is $16, the resulting
A. surplus will lead to a rise in price.
B. shortage will lead to a fall in price.
C. surplus will lead to a fall in price.
D. shortage will lead to a rise in price.
Answer: C
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Price taking behavior exists in
A) perfectly competitive markets. B) markets with a monopolist, where consumers have to take price as it is given to them by the monopolist. C) automobile markets where consumers have to take the price set by the dealer. D) Both answers B and C are correct.
Describe the main ideas of endogenous growth theory. What does it have to say about the role of government in economic growth?
What will be an ideal response?
IRA stands for Individual Retirement Asset
a. True b. False
The emphasis on the importance of advances and dissemination of knowledge is a cornerstone of the
A. Logistics development theory. B. Neo-Keynesian school. C. Malthusian school. D. New growth theory.