Author Question: When the price is below the equilibrium price, the quantity demanded A) is less than the ... (Read 5 times)

swpotter12 · **on:** Jun 29, 2018

When the price is below the equilibrium price, the quantity demanded

A) is less than the equilibrium quantity and the quantity supplied also is less than the equilibrium quantity.
B) is less than the equilibrium quantity but the quantity supplied exceeds the equilibrium quantity.
C) exceeds the equilibrium quantity and the quantity supplied also exceeds the equilibrium quantity.
D) exceeds the equilibrium quantity but the quantity supplied is less than the equilibrium quantity.

Question 2

Julie's total utility from cheeseburgers is given in the table above. What is the marginal utility of the third cheeseburger?

A) 86
B) 28.7
C) 20
D) 14