FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which of the following istrue about a market at equilibrium price? The market does not clear. At the prevailing price, there is no market basis

Which of the following istrue about a market at equilibrium price?

The market does not clear.

At the prevailing price, there is no market basis for the price to change.

There tend to be shortages because the price is so low.

Demand is low because the price is so high.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Federal Taxation 2017 Individuals

Federal Taxation 2017 Individuals

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

30th Edition

134420861, 978-0134743110, 134743113, 978-0134420868

Students also viewed these Economics questions

Question

★★★★★
How does the auditors control risk assessment relate to audit risk?

Answered: 1 week ago

Question

★★★★★
7.3 Drainee purchases direct materials each month. Its payment history shows that 65% is paid in the month of purchase with the remaining balance paid the month after purchase. Prepare a cash payment...

Answered: 1 week ago

Question

★★★★★
1. When is your best time for studying? Morning, late night? Study your most difficult subjects then.

Answered: 1 week ago

Question

★★★★★
Journalize the entries to record the following: a. Check No. 6172 is issued to establish a petty cash fund of $1,000. b. The amount of cash in the petty cash fund is now $239.16. Check No. 6319 is...

Answered: 1 week ago

Question

★★★★★
J&R Renovation, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 12 years to maturity that is quoted at 110 percent of face value. The issue makes semiannual...

Answered: 1 week ago

Question

★★★★★
The complexity and uniqueness of the federal government makes it difficult to conduct a meaningful analysis of its financial condition. However, conducting a financial statement analysis does provide...

Answered: 1 week ago

Question

★★★★★
1. In your workplace, give a good example of a direct cost? An indirect cost? Please provide an explanation of why your example fits the definition. 2. Does your organization use responsibility...

Answered: 1 week ago

Question

★★★★★
Net sales, net income, and total assets for Alexander Shipping, Inc., for a five-year period follow: (Click the icon to view the data.) Read the requirements Requirement 1. Calculate trend...

Answered: 1 week ago

Question

★★★★★
Which of the following things may NOT a customer representative do? A. Conduct business outside of his or her designated office B. Compare insurance products with clients C. Complete applications D....

Answered: 1 week ago

Question

★★★★★
Sokolsky Designs reported the following amounts on its balance sheets at December 31, 2021, 2020, and 2019: (Click the icon to view the data.) Sales and profits are high. Nevertheless, Sokolsky is...

Answered: 1 week ago

Question

★★★★★
8) Lant, a cash-basis taxpayer, owns a controlling interest in ABC, Inc. She told the bookkeeper of ABC not to write her dividend check until the beginning of January Year 2, even though all other...

Answered: 1 week ago

Question

★★★★★
The generally accepted principle of ethical behaviour is that it begins with: A B C D corporate leaders government leaders religious leaders you and me

Answered: 1 week ago

Question

★★★★★
Accreditation What are some types of Accreditation and reporting to the Department of Education and other regulatory agencies? Explain Regional Vs National Accreditation. 1 Select one Regional...

Answered: 1 week ago

Previous Question Next Question