The equilibrium price in the above figure is
A) $2.
B) $4.
C) $6.
D) $8.
C
Economics
You might also like to view...
What explains the increase in supply and fall in price of HDTVs during from 2010 to 2015?
A) Technological innovations that reduced the cost of production B) Fewer producers in the industry C) A fall in demand for HDTVs as more people turned toward superior substitutes D) None of the above.
Economics
If a large percentage increase in the price of a good results in a small percentage increase in the quantity supplied of the good, supply is said to be
a. horizontal. b. relatively inelastic. c. relatively elastic. d. income proof.
Economics