Market equilibrium occurs where supply equals demand
Indicate whether the statement is true or false
FALSE
Economics
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What is the shape of a monopolist's demand curve and marginal revenue curve?
What will be an ideal response?
Economics
Diminishing marginal returns occurs when:
a. the marginal product of a variable input diminishes with each additional unit of the input. b. the marginal product of a variable input increases with each additional unit of the input. c. the marginal product of a fixed input diminishes with each additional unit of the input. d. the marginal product of a fixed input increases with each additional unit of the input.
Economics