A market is in equilibrium when
A) supply is equal to demand.
B) the price is adjusting upward.
C) the quantity supplied is equal to the quantity demanded.
D) tastes and preference remain constant.
C
Economics
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Social Security payments:
A. cause concern for retirees, due to the increase in life expectancies. B. continue to cause the elderly to lose income over time, since payments are not adjusted for inflation. C. hold their real value because they are adjusted for inflation. D. are the biggest drain on the retirees' budget each year.
Economics
Firms with market power must decide all of the following except
A. how to produce it. B. how much to supply in each input market. C. what price to charge for their output. D. how much to produce.
Economics