Suppliers will be willing to supply a product only if
A) the price received is at least equal to the additional cost of producing the product.
B) the price is higher than the average cost of producing the product.
C) the price received is at least double the additional cost of producing the product.
D) the price received is less than the additional cost of producing the product.
A
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Which of the following is an index of exchange rates?
A) import-export ratio B) trade-weighted exchange rate C) trade balance index D) foreign price-domestic price ratio
Equilibrium price is best described as the price
a. at which excess demand is less than excess supply b. at which there is an excess demand c. at which there is an excess supply d. that tends to fall because of an excess supply e. at which excess demand and excess supply equal zero