Which of the following is true for a market that clears?
a. An excess supply of anything traded will lead to a fall in its price.
b. An excess demand of anything traded will lead to a fall in its price.
c. An excess supply of anything traded will lead to a rise in its price.
d. An excess demand of anything traded will not lead to a price change.
e. A high price will lead to a high demand.
A
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Which of the following must exist for a firm to engage in price discrimination?
A) The firm must be able to identify and separate its buyers into different classes, and the low-price buyers cannot resell the product to the high-price buyers. B) The firm must face an inelastic demand. C) The firm must be able to realize economies of scale. D) The firm must have no more than one class of buyer. E) The firm must be a natural monopoly.
Two telephone networks that grant access so they can complete each others' calls will be motivated to set efficient prices
Indicate whether the statement is true or false
Which of the following shifts aggregate demand to the left?
a. The price level rises. b. Interest rates fall. c. The dollar depreciates for some reason other than a change in the price level. d. Stock prices fall for some reason other than a change in the price level.
The firm that practices price discrimination needs to be able to distinguish ________; the seller also has to be able to prevent the buyers in the lower-priced market from ________ the product to those in the higher-priced market.
Fill in the blank(s) with the appropriate word(s).