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Author Question: In the above figure, if the demand curve is D2, then A) the equilibrium price will be P1 and the ... (Read 34 times)

123654777

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on: Jun 29, 2018
In the above figure, if the demand curve is D2, then
 
  A) the equilibrium price will be P1 and the equilibrium quantity will be Q2.
  B) the equilibrium price will be P1 and the equilibrium quantity will be Q1.
  C) there will be a shortage equal to Q2 - Q1.
  D) an increase in price will shift the demand curve to D3.

Question 2

We offer the best deal in town. If somebody charges a lower price, bring in their ad and we'll beat it From the economic point of view, the firm promising to match its competitor's low prices is attempting to
 
  A) lie.
  B) cheat.
  C) learn more about the market.
  D) do nothing more than bait and switch their customers.


SAUXC

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

A

Answer to Question 2

C


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