QuizMaster A. There is excess equilibrium
B. There is excess supply
C. There is excess demand
D. There is equilibrium
A. Be under provided in the free market
B. Be over provided in the free market
C. Not be provided in the free market
D. Has no opportunity cost
A. Increase equilibrium price and quantity
B. Decrease equilibrium price and quantity
C. Increase equilibrium price and decrease quantity
D. Decrease equilibrium price and increase quantity
A. The price elasticity of supply is – 3
B. The price elasticity of supply is – 0.2
C. The price elasticity of supply is – 2
D. The price elasticity of supply is infinity
A. The price elasticity of supply is price inelastic
B. The price elasticity of supply is price elastic
C. The price elasticity of supply is perfectly elastic
D. The price elasticity of supply is infinity
A. The price consumers are willing to pray for a unit
B. The cost of providing a unit
C. The profits made by a firm
D. The difference the price a consumer pays for an item and the price he/she is willing to pay
A. A change in technology
B. A change in the number of producers
C. A shift in demand
D. A change in costs
A. A change in income
B. A change in the number of buyers
C. A change in advertising
D. A shift in supply
A. An fall in demand
B. An increase in supply
C. improvements in production technology
D. An increase in demand
A. Lead to a movement along the supply curve
B. Shift the demand curve
C. Shift the supply curve
D. Lead to an extension of supply