Author Question: The output level that occurs in any market that is in equilibrium: a. is the quantity where the ... (Read 48 times)

casperchen82 · **on:** Jun 30, 2018

The output level that occurs in any market that is in equilibrium:
a. is the quantity where the supply curve intersects the y-axis.
b. is the quantity where the demand curve intersects the x-axis.
c. is the quantity at an output level where buyers will pay more than suppliers require.
d. is an output level where buyers will not pay as much as suppliers require.
e. is the quantity where the demand and supply curves intersect each other.

Question 2

When resources are used efficiently, you can produce more of one good, ceteris paribus, only by:
a. printing more money.
b. charging a lower price for output.
c. charging a higher price for output.
d. producing less of another good.