Equilibrium price is best described as the price
a. at which excess demand is less than excess supply
b. at which there is an excess demand
c. at which there is an excess supply
d. that tends to fall because of an excess supply
e. at which excess demand and excess supply equal zero
E
Economics
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The term “human capital” refers to how many people must work to produce a product.
Answer the following statement true (T) or false (F)
Economics
If we assume competitive labor markets, the supply curve of labor when the firm is a monopoly is
A. horizontal. B. upward sloping. C. vertical. D. downward sloping.
Economics