Multiple Choice
Which of the following is NOT a characteristic of a market in equilibrium?
A) Excess supply is zero.
B) All consumers are able to purchase an amount equal to their quantity demanded.
C) Excess demand is zero.
D) The equilibrium price is stable, i.e., there is no pressure for it to change.
Correct Answer:
Verified
Correct Answer:
Verified
Q47: Assume both the demand and the supply
Q48: If the demand for a good decreases
Q49: A market comprised of a downward-sloping demand
Q50: What might cause a supply function to
Q51: Which of the following directly follows from
Q53: Suppose that the equilibrium price of DVD
Q54: An increase in the quantity demanded of
Q55: For two goods X and Y to
Q56: Suppose one observes that when the price
Q57: An outcome is socially optimal if it:<br>A)follows