If the quantity demanded for a product exceeds the quantity supplied, the market price will rise until
A) the quantity demanded equals the quantity supplied. The product will then no longer be scarce.
B) quantity demanded equals quantity supplied. The market price will then equal the equilibrium price.
C) only wealthy consumers will be able to afford the product.
D) quantity demanded equals quantity supplied. The equilibrium price will then be greater than the market price.
Question 2
The distribution of income should be determined by the government is an example of a normative economic statement.
Indicate whether the statement is true or false
Alan Price - Poor People
Patient Information Supplied When Scheduling Hospital Admissions
Price of Computers, 1982–2010
Use the product rule to find derivative
Markets and Institutions Market Story Problem
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.