Refer to the given table. The equilibrium price in this market is:Price Per UnitColumn A Units Per YearColumn B Units Per Year$2010040$309550$408060$506570$605080
A. between $20 and $30.
B. nonexistent.
C. between $30 and $40.
D. between $40 and $50.
Answer: D
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Which of the following models view changes in real supply-side factors as determinants of short-run fluctuations in output and employment?
a. New classical models b. Political business cycle models c. Keynesian models d. Real business cycle models e. none of the above
Many country inns shut down in the off-season because
a. the off-season market price falls below average total cost b. the off-season market price can't cover their average fixed cost c. the off-season revenue can't cover variable cost d. the off-season price is below the marginal cost of providing a room e. innkeepers are interested in maximizing revenue
A Pigovian tax imposed on consumers ___________ the price, and if the same tax were imposed on producers, it would _____________ the price.
A. increases; decrease B. decreases; increase C. increases; increase D. decreases; decrease
Intermediate goods are included and final goods are not included in calculating gross domestic product
a. True b. False Indicate whether the statement is true or false