Whenever there is a surplus at a particular price, the quantity sold at that price will equal:
a. the quantity demanded at that price
b. the quantity supplied minus the quantity demanded.
c. the quantity supplied at that price.
d. (quantity demanded plus quantity supplied)/2.
a
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Free-market economies have led to
A. high growth rates but low efficiency. B. high efficiency and low growth rates. C. high growth rates and high efficiency. D. low growth rates and low efficiency.
The demand for Honda Accords is probably
A) inelastic but more elastic than the demand for automobiles. B) elastic and more elastic than the demand for automobiles. C) inelastic and less elastic than the demand for automobiles. D) elastic but less elastic than the demand for automobiles.
An employer's effort to minimize transaction costs can result in employment discrimination
Indicate whether the statement is true or false
When quantity demanded of a good is less than the quantity supplied at the prevailing market price,
a. the market is in equilibrium b. the price of the good tends to rise c. the price of the good tends to fall d. the demand curve shifts rightward until the surplus is eliminated e. the supply curve shifts leftward until the shortage is eliminated