The equilibrium price is established when the _____.
A) prevailing market price of an item is same as the price at which a consumer can buy the item
B) demand curve and the supply curve are parallel to each other
C) opportunity cost of a product is greater than its production cost
D) production cost of an item is greater than its selling price
Correct Answer:
Verified
Q6: Assume that the price of gasoline triples.What
Q13: An economist studies the consumer behavior in
Q34: Monopolistic competition has _.
A)many buyers and sellers,who
Q38: If buyers' incomes increase,the demand curve will
Q39: Explain oligopoly.
Q41: Incentives to motivate employees to perform at
Q44: David cultivates and sells sugarcane to a
Q46: If the cost of producing a good
Q47: Flora Cult Inc. ,an exporter of flowers
Q48: According to a supply curve,_.
A)as prices rise,quantity
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents