Question: Question 1 1 ( 4 points ) The most important characteristic of the equilibrium price is that it q , guarantees that producers earn profit.

Question 11(4 points)
The most important characteristic of the equilibrium price is that it q,
guarantees that producers earn profit.
clears the market, leaving neither a surplus nor a shortage.
maximizes the quantity demanded of a good.
minimizes the quantity demanded of a good.
guarantees that buyers maximize their utility.
Question 11(4 points) The most important characteristic of the equilibrium price

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

1) The law of demand states that as the price of a good rises, _____. A. buyers purchase more of the good, because the price of a substitute has risen B. buyers purchase less of the good, because...

Q:

QUESTION 1 A firm operating in a perfectly competitive market is a price taker because: A. no firm has a significant market share. B. no firm's product is perceived as different. C. setting a price...

Q:

Please answer question 2 and please use excel. thanks! CASE 2 In 2009, David Samuelson quit his job at a large beer company to start his own brewery, Ambitious Microbrewery, Inc. (AMI). His family...

Q:

In 2009, David Tucker quit his job at a large beer company to start his own brewery, Tempe Microbrewery (TM). His family supported his decision and invested in the business along with David. TM began...

Q:

In 2009, David Tucker quit his job at a large beer company to start his own brewery, Tempe Microbrewery (TM). His family supported his decision and invested in the business along with David. TM began...

Q:

Hello I need help with this memorandum The question is on the last picture Arizona Microbrewery, Inc.: An Instructional Case on Management Decision Making Janet A. Samuels Arizona State University...

Q:

Hello, I need help with this memo please Here is the question David is determined to make $50,000 after tax. After listening to your advice, he makes a radical choice: discontinuing the production of...

Q:

2.In Question 1, you identified the total number of cases the company needs to sell to earn $80,000 before tax.Assume you did the calculations in Question 1 correctly.However, before discussing your...

Q:

(22 points) Suppose it is costly to transport exports. Let this cost be equal to some number T per unit. We are going to investigate some features of how the presence of T impacts the monopolistic...

Q:

2. the total number of cases the company needs to sell to earn $80,000 before tax. However, before discussing the solution with the owner, identify and explain at least three issues related to the...

Q:

Grappler Inc. has an approved $200,000 committed line of credit with the Banque de la Nouvelle-cosse on March 1, 2020. An interest rate of prime plus 2.1% was negotiated along with a commitment fee...

Q:

The trustee of a companys pension plan has solicited the opinions of a sample of the companys employees about a proposed revision of the plan. A breakdown of the responses is shown in the...

Q:

What are the three types of conjunctions? Describe the function of each one.

Q:

5. Develop a scenario comparing two PH programs and involving the use of a CBA.

Q:

Do you have experience with group conflict, as either a group member or leader? If so, how was this conflict handled? Did conflict strengthen or weaken the communication between group members?

Q:

IV. How should we market this new Web site? A. Discuss the focus of the marketing campaign: Whats the message? B. Brainstorm how to get the message out C. Distill list of ideas; assign roles

Q:

Consider the six steps to problem solving weve just discussed. If Susan, the leader of EcoCrew, had chosen a different leadership style, would this have affected how the problem-solving steps were...