The ___________ is the only price where quantity demanded is equal to quantity supplied.

Complete the statement: the nature of demand indicates that as the price of a good increases:

When a firm will supply a higher quantity at any given price for its output, and the supply curve will shift to the right.

a) prices rise

b) costs of production fall

c) there is a population increase

Complete the statement: When quantity demanded decreases in response to a change in price _________________.

The demand curve for a typical good has:

A) a negative slope because some consumers switch to other goods as the price of the good rises.

B) a negative slope because the supply of the good rises as demand rises.

C) a negative slope because the good has less ""snob appeal"" as its price falls.

D) an inverse slope because as the price goes up, the good has more profitability.

E) a positive slope because price is a clear indicator of need.

If new manufacturers enter the computer industry, then (ceteris paribus):

A. The supply curve shifts to the left.

B. The supply curve shifts to the right.

C. The demand curve shifts to the left. D.

D Some established manufacturers must exit the industry.

The concept of chemical equilibrium is very important. Which one of the following statements is the most correct way to think about equilibrium? If a system is at equilibrium, nothing is happening.

For each quantity listed in parts (a- e) above, name a unit of measure that would be appropriate to measure the quantity.

The equation for a demand curve is P = 48 – 3Q. What is the elasticity in moving from a quantity of 5 to a quantity of 6?

Simplify quantity $x$ plus $3$ over $9$ all over quantity $x$ plus $12$ over $6$.

Choose the correct option.

The ________ is where the quantity demanded and quantity supplied are equal at a certain price.

A) surplus

B) supply schedule

C) equilibrium

The equation for a demand curve is P = 48 – 3Q. What is the elasticity in moving from a quantity of 5 to a quantity of 6?

Choose the correct term to complete each sentence. If a quantity varies directly with one quantity and inversely with another, it is a(n) _____.

"An increase in the demand for notebooks raises the quantity of notebooks demanded but not the quantity supplied ." Is this statement true or false ? Explain.