If the supply and demand curves cross at a price of $2, at any price above that

Question:

If the supply and demand curves cross at a price of $2, at any price above that there will be

a). An equilibrium

b). A surplus

c). A shortage

d). A crisis

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Issues in Economics Today

ISBN: 978-1259746390

8th edition

Authors: Robert C. Guell

See More Books

Question Posted: Apr 24, 2018 12:34 AM

See More Questions

If the supply and demand curves cross at a quantity of 100, then the price necessary to get firms to sell more than that will have to be _______ equilibrium. a). Above b). At c). Below d). Within 10...
From the following data, plot the supply and demand curves and determine the equilibrium price and quantity: What would happen if the demand for pizzas tripled at each price? What would occur if the...
Suppose the current dollar-peso spot exchange rate equals $0.08/Ps, but it fluctuates with the forces of supply and demand. Due to domestic turmoil, assume that Mexican peso holders suddenly demand...
You are a financial analyst. Based on your analysis of Macys financial statements, provide a report to guide investors whether Macys is a buy (keep) or sell stock. Your report should include the...
Write an essay on "My Life"
The nation of Fishkasar has a tax rate of 10% on the first 20,000 walops (the national currency) of taxable income, then 25% on the next 30,000 walops, then 50% on all taxable income above 50,000...
The drug barbiturate is well known. It has different forms-mostly different types of barbituric acid. Consider the following list of barbituric acids: \{Candidate 1: 000077-02-1; Candidate 2:...
Review the 2007 balance sheet data for Hewlett-Packard (HP) and Dell shown below. 1. Compute each companys current ratio for 2007. Based on the result, which company appears to be more liquid? 2....
Pick two line-items from the Balance Sheet from the following list: o Accounts Receivable Inventory o Property, Plant, and Equipment (PP&E) Accounts Payable o Long-Term Debt Total Equity Retained...
If you were a shareholder in Fiber tech sitting in the Board of Directors, based on the information you read in the financial statements, what further relevant questions would you ask to get a more...
The economic rationale for farm price supports is generally a. Weak, but relies on price variability. b. Weak, but relies on the unavailability of crop insurance. c. Strong, and relies on the fact...
Propose a plausible synthesis for each of the following transformations: a. b. c. d. e. f. g. Br Br
Evaluate (to 4sf) (a) sinh 1 (0.5) (b) cosh 1 (3) (c) tanh 1 (2/5) using the logarithmic forms of these functions. Check your answers directly using a calculator.
Why do upward-sloping labor supply curves to firms cause the marginal expense of labor to exceed the wage rate?
In the 1920s, South Africa passed laws that effectively prohibited black Africans from working in jobs that required high degrees of skill; skilled jobs were reserved for whites. Analyze the...
When Plant X closed, Employer Y (which offers no training to its workers) hired many of Xs employees after they had completed a lengthy, full-time retraining program offered by a local agency. The...
Suppose that the supply curve for optometrists is given by L s = -6 + 0.6W, while the demand curve is given by L D = 50 - W, where W = annual earnings in thousands of dollars per year and L =...
A recent magazine article on Japans economic problems stated, As the post-war baby-boomers reach their 50s, Japans lifetime employers are carrying the cost of paying their senior workers more than...
The following classical curves have been studied by generations of mathematicians. Use analytical methods (including implicit differentiation) and a graphing utility to graph the curves. Include as...
You've been asked to take over leadership of a group of paralegals that once had a reputation for being a tight-knit, supportive team, but you quickly figure out that this team is in danger of...
Will the elimination of trade barriers between countries in Europe eliminate the need to consider submarkets of European consumers? Why or why not?
What and who is the U.S. government attempting to protect in its effort to preserve and regulate competition?
For each of the major laws discussed in the text, indicate whether in the long run the law will promote or restrict competition. As a consumer without any financial interest in business, what is your...
A company is faced with the decision of whether to lease or purchase new equipment. The equipment can be leased at an annual cost of $210,000 or purchased for $560,000. The equipment has an expected...
Braverman Company has two manufacturing departments-Finishing and Fabrication. The predetermined overhead rates in Finishing and Fabrication are $28.00 per direct labor-hour and 120% of direct...
A stock had returns of 28%, 1%, and 13% over the previous 3 years. The average return on this stock over the 3-year period was 14%. What was the variance of this stock's returns over the previous 3...

If the supply and demand curves cross at a price of $2, at any price above that

Question:

Step by Step Answer:

If the supply and demand curves cross at a price of 2 at any pric...View the full answer

Issues in Economics Today

Students also viewed these Business questions