In a given market, how are the equilibrium price and the market-clearing price related?
a. There is no relationship.
b. They are the same price.
c. The market-clearing price exceeds the equilibrium price.
d. The equilibrium price exceeds the market-clearing price.
b
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Suppose the government has a budget surplus. Then
A) private saving is less than investment and government saving is positive. B) private saving is greater than investment and government saving is positive. C) private saving is greater than investment and government saving is negative. D) private saving is equal to investment. E) private investment is greater than the sum of government saving and private saving.
If, as a firm increases its rate of output, total cost increases as well,
a. profit cannot be maximized b. revenue cannot be maximized c. cost cannot be minimized d. marginal cost is increasing e. marginal cost is positive