Equilibrium takes place where:
A. prices are maximized.
B. supply is highest.
C. supply and demand intersect.
D. demand is highest.
Answer: C
Economics
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According to your textbook, efforts to free Sudanese slaves by buying them in the open market actually
A) increased supply of slaves, which lowered slave prices and increased the size of the slave market. B) increased demand for slaves, which increased slave prices and increased the size of the slave market. C) decreased supply of slaves, which increased slave prices and decreased the size of the slave market. D) decreased demand for slaves, which decreased slave prices and decreased the size of the slave market.
Economics
Refer to Figure 13-11. What is the monopolistic competitor's profit maximizing price?
A) P1 B) P2 C) P3 D) P4
Economics