The demand for microwaves in a certain country is given by: D = 8,000-30P, where P is the price of a microwave. Supply by domestic microwave producers is: S = 4,000 + 10P. Suppose the economy is closed. The equilibrium price of a microwave is ________ and equilibrium quantity is____.
A. $100; 5000
B. $125; 4000
C. $50; 8000
D. $75; 6000
Answer: A
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Answer the following statement true (T) or false (F)
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A) labor supply; leftward B) labor supply; rightward C) labor demand; leftward D) labor demand; rightward
In Figure 3-3 above, when income is 1,500, unplanned inventory investment is
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a. True b. False Indicate whether the statement is true or false