Figure 6.7 shows the supply and demand curves for human kidneys. If the government allowed the market to seek equilibrium, then:
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- Figure 6.7 shows the supply and demand curves for human kidneys. If the government set the price of a kidney at $5,000, then:
- Figure 6.7 shows the supply and demand curves for human kidneys. Because the government does not allow a person to sell a kidney:2fb1d9fd27d2ecd6d9d3815781632e7b.png
- In a supply and demand figure, the equilibrium price and quantity are found at the A: point where quantity supplied equals quantity demanded. B: horizontal intercept of the demand curve. C: vertical intercept of the supply curve. D: horizontal intercept of the supply and the demand curves.
- An increase in market supply and an increase in market demand will result in A: A decrease in equilibrium price and an increase in equilibrium quantity B: A decrease in equilibrium price - the change in equilibrium quantity is indeterminate C: An increase in equilibrium quantity and the change in price is unclear D: all of above
- When the interest rate on a bond is below the equilibrium interest rate, there is excess _________ in the bond market and the interest rate will _________ A: demand; rise B: demand; fall C: supply; fall D: supply; rise