When a market is in equilibrium
A) everyone has all they want of the commodity in question.
B) there is no shortage and no surplus at the equilibrium price.
C) the number of buyers is exactly equal to the number of sellers.
D) the supply curve has the same slope as the demand curve.
B
Economics
You might also like to view...
A short-lived increase in oil prices caused by destruction of oil-producing and oil-refining facilities by a large hurricane will
A) shift the SRAS curve to the right. B) shift the AD curve to the right. C) shift the SRAS curve to the left. D) shift the LRAS curve to the right.
Economics
The sum of all of debit items in the balance of payments
A. equals "compensating" transactions. B. equals the errors and omissions. C. equals the overall balance. D. equals the sum of all credit items.
Economics