According to the above table, at a price of $8 per unit, other things constant
A) consumers will continue to bid prices upward.
B) there will be no tendency for the market to approach an equilibrium.
C) a surplus of 100 units will exist.
D) a shortage of 80 units will exist.
C
Economics
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The market for unskilled labor is illustrated in the figure above. The market is in equilibrium and then a minimum wage of $3 per hour is imposed. Unemployment will equal
A) 0 hours. B) 10 million hours per year. C) 20 million hours per year. D) 30 million hours per year.
Economics
If an investor is certain that market interest rates will decline in the future, which of the following will she be most likely to purchase?
A) a six-month government bill B) a two-year government note C) a ten-year government bond D) a fifty-year government bond
Economics