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Author Question: Refer to Figure 15-12. If this industry was organized as a perfectly competitive industry, the ... (Read 156 times)

jasdeep_brar

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on: Jun 29, 2018
Refer to Figure 15-12. If this industry was organized as a perfectly competitive industry, the market output and market price would be
 
  A) output = 83; price = 22. B) output = 62; price = 18.
  C) output = 62; price = 24. D) output = 104; price = 20.80.

Question 2

Because of the slope of the aggregate demand curve, we can say that
 
  A) a decrease in the price level leads to a lower level of real GDP demanded.
  B) an increase in the price level leads to a higher level of real GDP demanded.
  C) a decrease in the price level leads to a higher level of real GDP demanded.
  D) an increase in the price level leads to no change in the level of real GDP demanded.


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zacnyjessica

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


jasdeep_brar

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

lkanara2

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Reply 3 on: Yesterday
:D TYSM

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