If the price of a good is above the equilibrium price ?

Related Mcqs:

A perfectly competitive market has ?

A. firms that set their own prices B. only one seller. C. at least a few sellers. D. many buyers and sellers....

A shift in supply will have more effect on price than quantity if ?

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 monopoly may be self-perpetuating because profits may be used for ?

A. research B. cost-saving C. technical advance D. all of the above...

The effect of a tax to offset a negative externality will be to ____ price and ______ quantity?

A. reduce , reduce B. increase, increase C. increase, reduce D. reduce, increase...

If a government were to fix a minimum wage for adult workers, economists would predict ?

A. wages in general would fall as employers tried to hold down costs B. fewer young workers would be employed C. the costs and prices of firms employing cheap labour would increase D. there would be more unemployment...