If a good is rationed, we can assume that
a. quantity supplied is greater than quantity demanded
b. the price of the good is above its equilibrium level
c. a price floor has been imposed on the market
d. an excess supply of goods exists
e. quantity supplied is less than quantity demanded
E
Economics
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If a firm is selling a quantity that is NOT on its best-response curve it
A) will go out of business. B) is in a Nash equilibrium. C) will want to change its behavior. D) is operating in a duopoly.
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The parties to a contract will choose to acquire possibly duplicative information if they believe that the increase in economic value being created will exceed the cost of discovering the information
Indicate whether the statement is true or false
Economics