Refer to the above figure. Excess quantity supplied will exist when
A) the price equals $10.
B) quantity demanded equals 3.
C) the price equals $6.
D) the price is between $0 and $6.
Answer: B) quantity demanded equals 3.
You might also like to view...
If in the market for bananas the supply curve has shifted to the right, then
A) the supply of bananas has decreases. B) the quantity of bananas supplied has decreased. C) the quantity of bananas supplied has increased. D) the supply of bananas increased.
The term "business fluctuations" refers to:
What will be an ideal response?
In order to predict changes in aggregate demand, it must be possible to forecast
A. changes in the demand for investment goods. B. changes in the demand for consumer goods. C. changes in the demand for money. D. All of the choices are correct.
An oligopoly is an industry with just one firm.
Answer the following statement true (T) or false (F)