In the figure above, what is the equilibrium price and quantity?
What will be an ideal response?
The equilibrium price is $4 a unit and the equilibrium quantity is 3 units per month.
Economics
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During the antebellum period, the federal government assumed
(a) responsibility for full employment. (b) responsibility for stable prices. (c) responsibility for the overall economy through control of the money supply. (d) little responsibility for most economic matters, leaving them to private individuals in businesses and households.
Economics
The exclusive privilege to use an asset is called a(n)
A) property right. B) exclusive use agreement. C) property privilege. D) right to work privilege.
Economics