For a particular product the Qd = (45 million) - (3 million × P) and QS = (0) + (2 million × P). If the current price is $7, which of the following is true?
A) The current price is equal to the equilibrium price.
B) There is a surplus of the product in the market.
C) The quantity demanded equals the quantity supplied.
D) There is a shortage of the product in the market.
D) There is a shortage of the product in the market.
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a. 500,000 b. 2.3 million – 1.8 million c. 300,000-200,000 d. 1.65 million – 1.54 million e. 800,000 to 450,000
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What will be an ideal response?
Which of the following is a primary difference between an insurgency and a revolution?
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a. True b. False