Author Question: If the prevailing price of shirts is 10 and at this price demanders demand 100 shirts while ... (Read 75 times)

a0266361136 · **on:** Jul 1, 2018

If the prevailing price of shirts is 10 and at this price demanders demand 100 shirts while suppliers are willing to supply 110 shirts, there is a(n)
a. shortage at the 10 price.
b. surplus at the 10 price.
c. equilibrium in this market.
d. shortage if price were to rise above 10.

Question 2

A division of a firm is
a. a logical sub-organization of the firm
b. a level within the firm in which a large degree of autonomy is vested
c. a level of hierarchy within a firm that defines the scope of a manager
d. all of the above