Which of the following statements best describes equilibrium?
a. The area above the point where the supply curve (S) and the demand curve (D) cross is called the equilibrium.
b. The area below the point where the supply curve (S) and the demand curve (D) cross is called the equilibrium.
c. The point where the supply curve (S) and the demand curve (D) cross is called the equilibrium.
d. Any point above where the supply curve (S) and the demand curve (D) cross is called the equilibrium.
c. The point where the supply curve (S) and the demand curve (D) cross is called the equilibrium.
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When will new firms enter a perfectly competitive market? When does entry stop?
What will be an ideal response?
How is the interest rate that prevails in the bond market determined?
A) by the interaction of stock prices and bond prices B) by the decision of the president, in consultation with Congress C) by the demand for and supply of bonds D) by the Board of Governors of the New York Stock Exchange
_____ when net taxes are reduced
a. Net exports decrease b. Government purchases remain constant c. Government purchases rise d. Consumption falls e. Consumption rises
Exhibit 11-11 Labor wage and cost data Labor Wage TWC MFC10 $ $ 50.00 $ 11 5.80 12 17.80 13 102.70 14 126.00 15 46.50 In Exhibit 11-11, the wage required to hire 12 employees is equal to:
A. $5.80. B. $6.00. C. $6.50. D. $6.80.