The equilibrium price and quantity of a good under perfect competition are determined:
A) by the intersection of the market demand and total revenue curves.
B) by the intersection of the total revenue and total cost curves.
C) by the intersection of the market demand and market supply curves.
D) by the intersection of the market supply and total revenue curves.
C
Economics
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If real GDP is $4 billion, the price level is 1.25, and the nominal money stock is $500 million, then velocity is
A) 0.1. B) 1. C) 10. D) 100.
Economics
When a transfer price decreases
a. the costs of the division using the intermediate product will fall b. the profits of the division using the intermediate product will be unaffected c. the profits of the division using the intermediate product will fall d. the profits of the division using the intermediate product will rise
Economics