A. Everything is sold
B. Buyers spend all their money
C. Quantity demanded equal quality supplied
D. Excess demanded equals quantity
E. C and D
Related Mcqs:
- Suppose both buyers and sellers of wheat expect the price of wheat to rise in the near future. What would we expect to happen to the equilibrium price and quantity in the market for wheat today ?
A. The impact on both price and quantity is ambiguous
B. Price will decrease, quantity is ambiguous.
C. price will increase, quantity will decrease
D. price will increase, quantity is ambiguous.
E. Price will increase, quantity will increase - If the market price is below the equilibrium price ?
A. quantity demanded will be greater than quantity supplied
B. quantity demanded will be less than quantity supplied
C. demand will be less than supply.
D. quantity demanded will equal quantity supplied . - If a producer has market power (can influence the price of the product in the market) then free market solutions ?
A. are equitable.
B. are efficient
C. maximize consumer surplus
D. are inefficient - If the price elasticity of demand for a product in market A is -0.2 and in market B is -3 a price discriminator will charge ?
A. The higher price in market A
B. The higher price in market B
C. The same Price in both markets
D. Cannot tell which price will be higher - Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to ____ tin and an export quota agreement would require that member countries _________ their export of tin?
A. purchase; decrease
B. purchase; increase
C. sell; increase
D. sell; decrease - Market equilibrium exists when _________ at the prevailing price?
A. quantity demanded equals quantity supplied
B. quantity demanded is less than quantity supplied
C. quantity supplied is greater than quantity demanded
D. quantity demanded is greater than quantity supplied - Suppose a frost destroys much of the Florida orange crop. At the same time, suppose consumer tastes shift toward orange juice, What would we expect to happen to the equilibrium price and quantity in the market for orange juice ?
A. price will decrease, quantity is ambiguous
B. The impact on both price and quantity is ambiguous.
C. Price will increase, quantity will increase
D. price will increase, quantity will decrease
E. price will increase, quantity is ambiguous. - If the price in a market is fixed by the government below equilibrium ?
A. There is excess equilibrium
B. There is excess supply
C. There is excess demand
D. There is equilibrium - If the price in a market is fixed by the government above equilibrium ?
A. There is excess equilibrium
B. There is excess supply
C. There is excess demand
D. There is equilibrium - If the price was fixed below the equilibrium price there would be ?
A. Excess supply
B. Excess demand
C. Equilibrium
D. Downward pressure on prices
