Market Equilibrium

Assessment
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WAN IBRAHIM
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Education
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University
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416 plays
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Medium
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10 questions
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1.
Multiple Choice
"holding all else equal, when the price of a good rises, suppliers increase their quantity supplied for that good"
law of supply
law of demand
law of equilibrium
opportunity cost
2.
Multiple Choice
the price where the quantity supplied equals the quantity demanded is known as
opportunity cost
demand curve
marginal analysis
market equilibrium
3.
Multiple Choice
When the quantity demanded is greater than the quantity supplied it is known as
equilibrium
a shortage
a surplus
an opportunity cost
4.
Multiple Choice
Any price where quantity demanded is not equal to the quantity supplied is known as disequilibrium.
true
false
5.
Multiple Choice
Which of the following is a way that a firm can eliminate a surplus?
raise prices
create a new product
offer a sale on the item
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