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Author Question: The equilibrium quantity in a perfectly competitive market is determined: A) at the point of ... (Read 120 times)

vHAUNG6011

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on: Jun 30, 2018
The equilibrium quantity in a perfectly competitive market is determined:
 
  A) at the point of intersection of the demand curve and the quantity axis.
  B) at the point of intersection of the demand and supply curves.
  C) at the point of intersection of the supply curve and the quantity axis.
  D) at the point of tangency between the demand and supply curves.

Question 2

Money serves as a standard of value, which is another way of saying that money functions as
 
  A) a unit of accounting. B) a medium of exchange.
  C) an opportunity cost of investment. D) standard of deferred payment.
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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dmurph1496

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

A


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