If price is above the equilibrium price, then there will be:
A. excess demand.
B. both excess supply and excess demand.
C. excess supply.
D. neither excess supply nor excess demand.
Answer: C
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As a general rule, antitrust authorities refer to any firm with a market share above ________ percent as a monopoly even though it is technically a dominant firm.
A) 66 B) 75 C) 95 D) 50
Is a uniform per-unit tax on firms that cause an externality an optimal policy for correcting the externality? Explain
What will be an ideal response?
If $1 U.S. was equivalent to 112 Japanese yen in 2008 and 83 Japanese yen in 2009, it implies that the: a. U.S. dollar depreciated against the yen in 2009
b. U.S. dollar appreciated against the yen in 2009. c. Japanese yen depreciated against the U.S. dollar in 2009. d. Japanese yen weakened against the U.S. dollar in 2009.
Compared to state and local spending, federal spending is
A. twice as large. B. about the same. C. half as large. D. one-quarter as large.