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a market for a product reaches equilibrium when
a. the actual quantity bought by the buyers equals actual quantity sold by the sellers
b. the price rises further after there is a surplus
c. Buyers intend to buy a quantity equal to the quantity that sellers intend to sell
d. Price falls further after there is a shortage
A shortage of a good occurs when : A) the quantity supplied equals the quantity, demanded B) the quantity supplied is greater than quantity demanded C) the quantity supplied is less than the quantity demanded D ) supply does not exist Who ultimately pays the tax depends on who writes the check to the government TRUE OR FALSE if a buyers pay $10 per unit and sellers receive $8.50 per unit the tax is 1.50 per unit TRUE OR FALSE