Which of the following is NOT true about the equilibrium price?
A) the price where a change in quantity supplied occurs
B) the price where the demand curve intersects the supply curve
C) the price where quantity demanded equals quantity supplied
D) the price where there is neither excess quantity demanded or excess quantity supplied
A
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Anything that influences a good’s price or the marginal physical product of labor will influence wages.
Answer the following statement true (T) or false (F)
Describe the effects on U.S. producers of steel, U.S. and consumers of steel, and the U.S. economy overall, after the United States imposed tariffs on steel imports in 2018. For the overall effect on the United States as a result of the steel tariffs, explain why it matters that the United States is a large importer of steel.
What will be an ideal response?