Multiple Choice
The most important characteristic of the equilibrium price is that it:
A) guarantees that producers earn profit.
B) clears the market,leaving neither a surplus nor a shortage.
C) maximizes the quantity demanded.
D) minimizes the quantity demanded.
E) guarantees that all buyers who want to buy the product will get it.
Correct Answer:

Verified
Correct Answer:
Verified
Q29: Suppose a market is in equilibrium.If a
Q30: Figure 4.2 shows the demand curves for
Q31: The income effect of an increase in
Q32: The income effect refers to the impact
Q33: Suppose current equilibrium price of pizza is
Q35: The impact of a $200 increase in
Q37: The law of demand states that:<br>A)other things
Q38: The effect of a decrease in the
Q39: Which of the following will indicate a
Q237: As the price of ballpoint pens increases,