« previous next »

Author Question: When the market price of a product is below the equilibrium price, shortages will result and sellers ... (Read 101 times)

pragya sharda

  • Hero Member
  • *****
  • Posts: 566
on: Jun 30, 2018
When the market price of a product is below the equilibrium price, shortages will result and sellers can be expected to reduce the supply of that product.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

An equilibrium price is unaffected by nonprice factors.
 a. True
  b. False
  Indicate whether the statement is true or false


Tonny

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

False


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Comparison of reactions at equilibrium and steady state Comparison of reactions at equilibrium and steady state
Two transesterification reactions that result in splicing of exons in pre-mRNA Two transesterification reactions that result in splicing of exons in pre-mRNA
Alan Price - Poor People Alan Price - Poor People
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ... Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
The functional role of pRB. The pRB protein product of RB1 The functional role of pRB. The pRB protein product of RB1
Phenotype patterns in the F2 of a dihybrid cross that result from epistatic gene interaction Phenotype patterns in the F2 of a dihybrid cross that result from epistatic gene interaction
Video: Polysaccharides

For a complete list of videos, visit our video library