If demand increases, the equilibrium price and equilibrium quantity will both fall, everything else being equal
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Refer to the figure above. What is the equilibrium wage rate if the labor demand curve is LD1 and the labor supply curve is LS1?
A) $25 B) $30 C) $20 D) $15
Economics
What does the circular flow model show?
(A) What inputs are required for what outputs. (B) How many firms can support the needs of how many households. (C) How profits are made. (D) The interactions between households and businesses in the free market.
Economics