A price ceiling set below the market clearing price will tend to cause which of the following?
A) a surplus
B) a shortage
C) an increase in demand
D) a reduction in supply
B
Economics
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Entrepreneurs engage in
A) arbitrage. B) innovation. C) imitation of other successful entrepreneurs. D) all of the above.
Economics
If the monopoly illustrated in the figure above could engage in perfect price discrimination, then each buyer would pay
A) $2.00. B) $3.00. C) $3.50. D) a different price.
Economics
Refer to Figure 13-3. Suppose the economy is at point C. If investment spending decreases in the economy, where will the eventual long-run equilibrium be?
A) A B) B C) C D) D
Economics
What is the most common type of business?
A) partnership B) corporation C) sole proprietorship D) They are equally represented because of federal laws.
Economics