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Masja [62]
2 years ago
8

1) In the market for apartment housing, the quantity of available apartments is observed to be less than the number of renters w

ho are willing and able to pay the market price of an apartment. In this scenario, the market is said to be _____.(1 point)
A in equilibrium because there is a surplus of apartments on the market


(B) in equilibrium because there is a shortage of apartments on the market


C in disequilibrium because there is a shortage of apartments on the market


D in disequilibrium because there is a surplus of apartments on the market
1) B

2) For a given market, the equilibrium quantity of the good or service will decrease if _____.(1 point)


A demand increases and supply decreases


B demand decreases and supply increases


(C) demand decreases and supply decreases


D demand increases and supply increases

2)C

3) Price Quantity Supplied Quantity Demanded

$10 1,000 2,500

$20 2,000 2,000

$30 3,000 1,500

$40 4,000 1,000


The equilibrium price for this market is _____.


(1 point)


A $10


(B) $20


C $30


D $40

3) B

4) In a given market, the market equilibrium price and quantity are $120 and 5 million units, respectively. At a price of $100, 4.8 million units are supplied, and 5.2 million units are demanded. It can be said that at a price level of $100 there is a _____.(1 point)


A a surplus of 0.4 million units


(B) a shortage of 0.4 million units


C a shortage of 0.2 million units


D a surplus of 0.2 million units

4) B

5)The supply and demand curves for a market are graphed below with price in dollars and quantity in thousands.


Two intersecting lines are graphed. The horizontal axis labeled Quantity goes from 0 to 70 in increments of 10. The vertical axis labeled Price goes from 0 to 50 in increments of 10. A line with a negative slope is labeled D and a line with a positive slope is labeled S. The lines intersect at approximately left parenthesis 33.7 comma 30 right parenthesis. A horizontal dashed line extends from left parenthesis 0 comma 30 right parenthesis to the point of intersection.


Which of the following would result from an increase in the supply curve?


(1 point)

(A) a market equilibrium price less than $30


B a market equilibrium quantity less than $30


C a market equilibrium quantity greater than $30


D a market equilibrium price greater than $30

5) A
5/5 Good job
Mathematics
1 answer:
jeka942 years ago
4 0

Answer:

Hey

Step-by-step explanation:

Hey did you find the answers to this? i really need it. im desperate!

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