According to the above figure, at a price of $6 per DVD, there is a
A. market equilibrium of 4000 DVDs per month.
B. surplus of 4000 DVDs per month.
C. shortage of 4000 DVDs per month.
D. market equilibrium of 6000 DVDs per month.
Answer: C
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A normative statement i. can be tested as to whether it is true or false. ii. is considered negative. iii. depends on a person's values
A) i only B) iii only C) i and iii D) ii and iii E) i, ii, and iii
In order to influence the interest rate, the Federal Reserve System can immediately adjust the
A) reserves of the banking system. B) inflation level. C) unemployment rate. D) taxes that citizens must pay. E) amount the government borrows.
For the single-price monopoly shown in the figure above, the deadweight loss is
A) zero. B) between $0 and $10. C) between $10.01 and $20. D) more than $20.01.
The formula for calculating the CPI is
A) (Expenditures in the current year × Expenditures in the base year)/100. B) (Expenditures in the base year/Expenditures in the current year). C) (Expenditures in the base year × 100)/(Expenditures in the current year). D) (Expenditures in the current year/Expenditures in the base year) × 100.