Category: Market

A. decrease in supply
B. increase in demand
C. increase in supply
D. decrease in demand

A. marginal costs, marginal benefits
B. demand, supply
C. marginal cost, marginal revenue
D. marginal cost, average cost

A. a production externality
B. a second-best solution
C. transaction costs
D. a consumption externality

A. Signal
B. Incentive
C. Rationing device
D. Indicator of income

A. there is a shortage and the price will fall
B. the quantity demanded is equal to the quantity supplied supplied and the price remains unchanged
C. there is surplus and the price will rise
D. there is a shortage and the price will rise
E. there is a surplus and the price will fall

A. Producers are price takers
B. consumers and producers face the same prices
C. marginal costs and benefits are equal
D. prices equal marginal cost and benefit
E. All of the above

A. quantity demanded will be greater than quantity supplied
B. quantity demanded will be less than quantity supplied
C. demand will be less than supply.
D. quantity demanded will equal quantity supplied .

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. Supply is price elastic
B. Demand is price elastic
C. Supply is stable
D. Demand and supply are price inelastic

A. players are better of to act independently
B. monopoly is better than competition
C. people will always cheat
D. players are better off if they co-operate