A market is said to be in equilibrium when
A) Demand is fully satisfied at all alternative prices.
B) The buying intentions of all consumers are realized.
C) The supply intentions of all sellers are realized.
D) The quantity demanded equals the quantity supplieD.Equilibrium occurs at the intersection of the supply and demand curves.
Correct Answer:
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Q44: If there is a shortage at a
Q46: At the equilibrium price,there are
A)Shortages.
B)Surpluses.
C)Excess inventories.
D)No shortages
Q47: The law of supply implies that
A)Supply curves
Q52: A shift in supply is defined as
Q54: The term market mechanism refers to
A)The use
Q55: When a surplus exists for a product,
A)Producers
Q57: If corn and wheat are alternative pursuits
Q58: If there is a surplus at a
Q61: Tickets to a sporting event go on
Q63: An increase in the equilibrium price of
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