Refer to Figure 4-2. Suppose Phil and Miss Kay are the only consumers in the market. If the price is $12, then the market quantity demanded is
A. 4 units.
B. 0 units.
C. 2 units.
D. 6 units.
Answer: C. 2 units.
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If a firm raises funds by recruiting additional owners to invest in the firm
A) the firm's net worth would decrease. B) the firm's financial capital would decrease. C) the firm's financial capital would increase. D) the firm's stock price would decrease.
According to Linder, the gains from international trade come about because consumers are exposed to
A) a greater variety of goods. B) increasing returns to scale. C) imperfect competition. D) None of the above.
If the minimum wage is set at a level below the equilibrium wage it:
A. will have a large effect. B. would be a nonbinding minimum wage. C. would interfere with the market reaching equilibrium. D. will probably affect government jobs more than any other job market.
The inflation determines more by:
a. demand-pull inflation forces. b. expected inflation forces.