The minimum price the firm would accept in the short run would be

During the 2007-2009 financial crisis, many households found themselves with debts to repay. How might this explain the consumer response to the 2008 Tax Rebate?

What will be an ideal response?

Assume Qs represents the quantity supplied at a given price and Qd represents the quantity demanded at the same given price. Which of the following market conditions produce a downward movement of the price?

a. Qs = 1,000, Qd = 750 b. Qs = 750, Qd = 750. c. Qs = 750, Qd = 1,000 d. Qs = 1,000, Qd = 1,000.