In the diagram to the right, point A provides the ______, point B the ______, and point C the ______.
A. market clearing price; equilibrium point; shortage
B. equilibrium price; market equilibrium' surplus
C. equilibrium price; market equilibrium; equilibrium quantity
D. equilibrium price; surplus or shortage; equilibrium quantity
Ans: C. equilibrium price; market equilibrium; equilibrium quantity
Economics
You might also like to view...
Taxpayers would be better off if a tax could just raise revenue without ______
a. altering the relative prices they face b. altering their preferences for a good c. tax shifting d. any income effects
Economics
The current international monetary system is best described as a: a. fixed exchange rate system. b. gold standard
c. dirty float system. d. free float system.
Economics