Five hundred units of good x are currently bought and sold. The marginal buyer is willing to pay $40 for the 500th unit, and the cost to the marginal seller is $35 for the 500th unit. We know that
a. the equilibrium price of good x is somewhere between $35 and $40.
b. the equilibrium quantity of good x exceeds 500 units.
c. 500 units is not an efficient quantity of good x.
d. All of the above are correct.
d
Economics
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A tax on the sellers of coffee mugs
A. decreases the size of the coffee mug market. B. may increase, decrease, or have no effect on the size of the coffee mug market. C. has no effect on the size of the coffee mug market. D. increases the size of the coffee mug market.
Economics
In the production function Real GDP = T (L, K), the T stands for tax coefficient
Indicate whether the statement is true or false
Economics