Microeconomics

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The use of a price system eliminates: a. scarcity. b. equilibrium. c. shortages and surpluses. d. ... Started by gbarreiro	1 Replies 79 Views	Jun 30, 2018 by dpost18
Market equilibrium is: a. defined as the condition in which there is neither a shortage or surplus. ... Started by Engineer	1 Replies 60 Views	Jun 30, 2018 by Viet Thy
Which of the following is true about the market equilibrium? a. As the price increases, the ... Started by Shelles	1 Replies 134 Views	Jun 30, 2018 by Mholman93
If movies are an inferior good, movie attendance will rise when consumer incomes fall. a. True b. ... Started by renzo156	1 Replies 125 Views	Jun 30, 2018 by nicoleclaire22
If renting videos is an inferior good, demand for this service will rise when consumer income falls. ... Started by Jipu 123	1 Replies 83 Views	Jun 30, 2018 by patma1981
If the price of good X increases and this causes an increase in the demand for good Y, then goods X ... Started by MirandaLo	3 Replies 83 Views	Jun 30, 2018 by nickk12214
Suppose A and B are substitute goods. Other things being equal, the demand curve for A will shift to ... Started by cnetterville	1 Replies 58 Views	Jun 30, 2018 by kardosa007
Suppose A and B are complementary goods. Other things being equal, the demand curve for A will shift ... Started by arivle123	1 Replies 64 Views	Jun 30, 2018 by Jordin Calloway
The law of supply states that an increase in supply is represented graphically as a rightward shift ... Started by bobypop	1 Replies 76 Views	Jun 30, 2018 by cdmart10
According to the law of supply, price and quantity supplied are inversely related, ceteris paribus. ... Started by neverstopbelieb	1 Replies 81 Views	Jun 30, 2018 by Silverbeard98
The supply curve for chicken will shift to the right, if production costs increase. a. True b. ... Started by jessicacav	1 Replies 80 Views	Jun 30, 2018 by mammy1697
If input prices increase, the supply curve for cheese will shift to the right. a. True b. False ... Started by Tazate	1 Replies 123 Views	Jun 30, 2018 by jasonq
Surpluses cause prices to rise while shortages cause prices to fall. a. True b. False Indicate ... Started by yoroshambo	1 Replies 218 Views	Jun 30, 2018 by Jsherida
In economics, the term surplus means an excess quantity supplied. a. True b. False Indicate ... Started by imanialler	3 Replies 97 Views	Jun 30, 2018 by alexisweber49
A surplus means that the quantity supplied is greater than the quantity demanded at the prevailing ... Started by nautica902	1 Replies 82 Views	Jun 30, 2018 by ktidd
Excess quantity demanded for a good creates pressure to push the price of that good down toward the ... Started by mpobi80	1 Replies 61 Views	Jun 30, 2018 by Yixagurpuldink
In economics, the term shortage means that the quantity demanded is greater than the quantity ... Started by vHAUNG6011	1 Replies 85 Views	Jun 30, 2018 by frre432
When the market price of a product is below the equilibrium price, shortages will result and sellers ... Started by pragya sharda	1 Replies 154 Views	Jun 30, 2018 by Tonny
Equilibrium in a market exists when there is neither a surplus nor a shortage of the item. a. True ... Started by sammy	1 Replies 89 Views	Jun 30, 2018 by jordangronback
Interpret what an increase in demand and an increase in supply mean. Discuss the causes of an ... Started by HudsonKB16	1 Replies 55 Views	Jun 30, 2018 by Dinolord
Using supply and demand curve analysis, the triangular area above the equilibrium price and under ... Started by justinmsk	1 Replies 41 Views	Jun 30, 2018 by Dominic
Consumer surplus is the: a. number of consumers who are excluded from a market because of scarcity. ... Started by CORALGRILL2014	3 Replies 83 Views	Jun 30, 2018 by juiceman1987
A drought destroys much of the peach crop. As a result, consumer surplus in the peach market: a. ... Started by azncindy619	1 Replies 181 Views	Jun 30, 2018 by kjohnson
Suppose Sam buys a good for 100 at a yard sale. If consumer surplus from the sale is 75, Sam would ... Started by vinney12	1 Replies 134 Views	Jun 30, 2018 by juiceman1987
If Sam is willing to pay 50 for one good X, 30 for a second, 20 for a third, 8 for a fourth, and the ... Started by xroflmao	1 Replies 49 Views	Jun 30, 2018 by ecox1012