Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Match these types of prices to their description by writing in the best choice in each blank. Term used by Middle Age A. Just Price

image text in transcribed
image text in transcribed
Match these types of prices to their description by writing in the best choice in each blank. Term used by Middle Age A. Just Price philosophers to describe pricing B. Natural Price such that justice is served. Term used to describe the C. Price in a Free Market inherent price of goods. Some think this is determined by the D. Equilibrium Price cost of production. E. Going Price The price of an economic good such that the amount of it that buyers wish to purchase in a certain time period is equal to the amount sellers are offering for sale. The amount a willing seller will take and a willing buyer will pay. That range of prices for a good at which sellers can dispose of most of their goods and buyers with some intensity of demand for the good will be satisfied

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Macroeconomics

Authors: Robert C. Feenstra, Alan M. Taylor

Fourth Edition

1319061729, 978-1319061722

More Books

Students also viewed these Economics questions

Question

6. How can hidden knowledge guide our actions?

Answered: 1 week ago