Refer to the figure below. There would be an excess supply of 25 at a price of ________.
A. $45
B. $20
C. $35
D. $50
Answer: D
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If the prices in the United States rise faster than those in other countries,
A) the exchange rate rises. B) the exchange rate falls. C) then interest rate parity must not hold. D) the interest rate in the United States falls.
Rate of return regulation, as currently applied to many natural monopolies such as public utilities,
A) generally involves the use of price caps. B) gives the firms an incentive to inflate their costs. C) gives the firms an incentive to cut their costs as much as possible. D) generally keeps their prices higher than if they were unregulated monopolists.
Workers laid off as a result of a recession suffer
A) structural unemployment. B) seasonal unemployment. C) natural unemployment. D) cyclical unemployment. E) frictional unemployment.
In the short run, ATC is not always higher than
a. AVC b. AFC c. MC d. Zero