Multiple Choice
If the quantity demanded of milk is 55,000 and the quantity supplied of milk is 80,000, then:
A) there is an excess supply of 25,000 units of milk.
B) the price of milk will tend to rise to clear the market.
C) consumers get the milk they want so market equilibrium exists.
D) there is an excess demand of 25,000 units of milk.
Correct Answer:
Verified
Correct Answer:
Verified
Q33: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8793/.jpg" alt=" -In Exhibit
Q34: The law of demand says that the
Q35: If a decrease in the price of
Q36: When quantity supplied equals quantity demanded, there
Q37: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8793/.jpg" alt=" In the
Q39: Assuming that bus travel is an inferior
Q40: A decrease in the price of coffee,
Q41: All of the following apply to the
Q42: Exhibit 3-3 Demand curves<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8793/.jpg" alt="Exhibit 3-3
Q43: The price of a good will fall