At equilibrium, quantity sold equals the quantity bought. This implies that
A) to sell more, producers require more in payment than consumers are willing to pay.
B) government regulation is necessary.
C) to sell less would require a lower price but would yield greater profit.
D) those who don't buy have been treated unfairly.
A
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In game in Scenario 13.8,
A) Y is a dominant strategy for IVY Corp. B) Z is a dominant strategy for IVY Corp. C) A is a dominant strategy for SAC Group. D) B is a dominant strategy for SAC Group. E) No firm has a dominant strategy.
On a traditional supply and demand diagram,
a. price is measured along the horizontal axis and quantity along the vertical axis. b. price is measured along the vertical axis and quantity along the horizontal axis. c. quantity demanded is measured along the horizontal axis, quantity supplied is measured along the vertical axis, and price is indicated on the contour lines. d. quantity is measured along both axes and price is indicated on the contour lines.