The ____________ is the quantity where quantity demanded and quantity supplied are equal at a certain price.
A. quantity demanded
B. equilibrium quantity
C. demand schedule
D. supply schedu
Answer: B. equilibrium quantity
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Assume that a monopolist practices perfect price discrimination. The firm's marginal revenue curve will
A) be perfectly elastic. B) be equal to its demand curve. C) lie below its demand curve. D) be perfectly inelastic.
Studies by economists have tended to show that countries with more independent central banks have
A) lower unemployment. B) more inflation. C) higher unemployment. D) less inflation.
Which of the following would most likely reduce the birthrate?
(a) public health improvements (b) an increase in child mortality (c) a decline in the availability of secondary education (d) a reduction in the opportunity cost of a woman's time (e) all of the above.
The Federal Trade Commission was established in 1914 to
A) regulate trade of public goods. B) promote competition in interstate commerce. C) investigate unfair competitive practices. D) prevent non-price competition.