The demand for microwaves in a certain country is given by: D = 8,000-30P, where P is the price of a microwave. Supply by domestic microwave producers is: S = 4,000 + 10P. Suppose the economy is closed. The equilibrium price of a microwave is ________ and equilibrium quantity is____.

The original six nations that formed the European Economic Community (EEC) were:

A) Spain, Portugal, Italy, Austria, Germany, and the United Kingdom. B) France, Bulgaria, Romania, Luxembourg, East Germany, and Russia. C) Belgium, France, Italy, Luxembourg, the Netherlands, and West Germany. D) Hungary, Austria, Germany, Poland, Belgium, and the United Kingdom.

A price searcher is any firm that has no control over price and must accept the market price as given

a. True b. False