Figure 4-21
A surplus will tend to occur at which price in Figure 4-21?
a.
P1
b.
P2
c.
P3
a
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In the dynamic aggregate demand and aggregate supply model, what is the result of aggregate demand increasing slower than potential real GDP?
What will be an ideal response?
If a monopoly firm sells to competitive distributors and the distributors have a constant marginal cost of $2 and they are paying the profit-maximizing wholesale price of $8, what is the retail price of the product?
A) $6 B) $8 C) $2 D) $10
Which of the following acts prohibits directors of one company from sitting on the board of a competitor?
a. Sherman Act b. Federal Trade Commission Act c. Robinson-Patman Act d. Clayton Act
State the law of supply and explain it.
What will be an ideal response?