Given the graph shown, the quantity that would be associated with the price of $4 in a supply table would be:
A. 2.
B. 8.
C. 6.
D. 4.
Answer: C
Economics
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When a price ceiling below the equilibrium price is imposed on a good, production of the good
A) increases. B) decreases. C) does not change. D) is frozen at the pre-ceiling level. E) either increases or decreases depending on whether the supply of the good increases or decreases when the price ceiling is imposed.
Economics
Discrimination by customers creates a wage differential between two groups by creating a difference in the two groups' perceived
A) supply of labor. B) value of marginal product. C) marginal cost of labor. D) minimum wage.
Economics