A condition in a market where there is no upward or downward pressure on price is called
A) a shortage.
B) a surplus.
C) market equilibrium.
D) All of the above are possible correct answers.
C
Economics
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The yuan-dollar exchange rate is currently:
A) fixed. B) floating. C) managed. D) flexible.
Economics
The fact that the firms in an oligopoly are mutually interdependent means that each firm:
A) must consider the reactions of its competitors when it sets the price for its output. B) produces a product that is similar, but not identical, to the products of its competitors. C) produces a product that is identical to the products of its competitors. D) faces a perfectly elastic demand curve for its product.
Economics