The unique point at which the supply and demand curves intersect is called
a. market harmony.
b. coincidence.
c. equivalence.
d. equilibrium.
d
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A popular dinner among college students today is sushi, green tea, and wasabi dip so these foods are complements. If the price of green tea increases and the price of wasabi dip increases, what would be the effect on demand for sushi at lunch?
A) The demand for sushi would decrease. B) The demand for sushi would increase. C) The demand for sushi would be unaffected, but the price would increase. D) The demand for sushi would be unaffected, but the price would decrease. E) The demand for sushi could increase or decrease.
Profits will be maximized when the slope of the total revenue curve and the slope of the total cost curve equal zero.
Answer the following statement true (T) or false (F)
Under which of the following scenarios is it most likely that monopoly power will be exhibited by firms?
A) When there are few firms in the market and the demand curve faced by each firm is relatively inelastic. B) When there are many firms in the market and the demand curve faced by each firm is relatively inelastic. C) When there are few firms in the market and the demand curve faced by each firm is relatively elastic. D) When there are many firms in the market and the demand curve faced by each firm is relatively elastic.
When investors buy more capital goods because the interest rates have fallen, the aggregate demand curve
A) shifts right. B) shifts left. C) does not shift. D) stays the same.