AnswersGalliWCA 2221 CivicsEconomics 1st nine weeks 26-27Determining Market Price

Determining Market Price Answers

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[___]

A
They should rise.
B
They should fall.
C
They should stay the same.
3

Use the information presented in the curve to answer the following question.What is the equilibrium price for the product?$25$20$15$10

A
$25
B
$20
C
$15
D
$10
4

[___]

A
equilibrium
B
excess supply
C
excess demand
5

[___]

A
equilibrium
B
surplus
C
shortage
6

[___]

A
They should rise.
B
They should fall.
C
They should stay the same.

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