The supply and demand schedules for dozens of roses are given below: Price__ Quantity S per period__ Quantity D per period $10________ 200_______________ 500 $20________ 300_______________ 450 $30________ 400_______________ 400 $40________ 500_______________ 350 $50________ 600_______________ 300 The equilibrium price for a dozen roses is
A) $30.
B) $50.
C) $20.
D) $10.
E) $40.
Ans: A) $30.
Economics
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Refer to the above figure. If real Gross Domestic Product (GDP) is $6 trillion, then unplanned business inventories will
A. be zero.
B. rise.
C. be equal to planned inventories.
D. fall.
Economics
If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock. B. long-run supply shock. C. long-run demand shock. D. short-run demand shock.
Economics