When buyers will purchase as much as sellers are willing to sell, what is the condition that has to be reached?
a. supply and demand
b. excess demand
c. price floor
d. equilibrium
Ans: d. equilibrium
Economics
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The checkerboard model shows that if involuntary segregation disappeared from society, people would likely no longer segregate themselves
Indicate whether the statement is true or false
Economics
A decrease in the equilibrium price for a product will result
A) when there is a decrease in demand and a decrease in the number of firms producing the product. B) when there is an increase in supply and a decrease in demand for the product. C) when the quantity demanded for the product exceeds the quantity supplied. D) when there is a decrease in supply and a decrease in demand for the product.
Economics