Market equilibrium:
A) shifts due to changes in supply and demand
B) remains constant over time
C) never occurs in real-world markets
D) is only found at the end of each trading period
Correct Answer:
Verified
Q15: A market is a:
A) marketplace
B) physical location
Q16: The supply curve represents:
A) the equilibrium consumption
Q17: The demand curve represents:
A) the equilibrium consumption
Q18: The supply curve is derived from:
A) the
Q19: The demand curve is derived from:
A) the
Q21: When the price of apples is lower
Q22: When the price of apples is higher
Q23: When we study a shift in supply
Q24: Supply shifts when:
A) production costs change
B) consumers
Q25: Demand shifts when:
A) production costs change
B) producer
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