Given a competitive market equilibrium with normal supply and demand curves: Select one or more: a. Firms are always price makers b. firms are price takers C. A rise in demand will lead to the possibility of an economic rent for some firms d. prices are fixed Excess supply in a competitive market with no intervention Select one or more: O a. Will lead to a rise in price b. Will lead to rationing O c. Will lead to diseconomies of scale O d. Will lead to a fall in price Given labour market equilibrium with identical workers, as set out in CORE Select one or more: O a. Unemployment is always voluntary b. Workers who are involuntarily unemployed cannot gain a job at any wage C. A Nash equilibrium exists O d. Measured unemployment will be zero

Given a competitive market equilibrium with normal supply and demand curves: Select one or more: a. Firms are always price makers b. firms are price takers C. A rise in demand will lead to the possibility of an economic rent for some firms d. prices are fixed Excess supply in a competitive market with no intervention Select one or more: O a. Will lead to a rise in price b. Will lead to rationing O c. Will lead to diseconomies of scale O d. Will lead to a fall in price Given labour market equilibrium with identical workers, as set out in CORE Select one or more: O a. Unemployment is always voluntary b. Workers who are involuntarily unemployed cannot gain a job at any wage C. A Nash equilibrium exists O d. Measured unemployment will be zero

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Please help me to find the correct awnser to the sub part, multiple choice questions.

just tell me which ones are correct please thank you

Given a competitive market equilibrium with normal supply and demand curves:
Select one or more:
O a. Firms are always price makers
O b. firms are price takers
O c. A rise in demand will lead to the possibility of an economic rent for some firms
O d. prices are fixed
Excess supply in a competitive market with no intervention
Select one or more:
a. Will lead to a rise in price
O b. Will lead to rationing
c. Will lead to diseconomies of scale
O d. Will lead to a fall in price
Given labour market equilibrium with identical workers, as set out in CORE
Select one or more:
O a. Unemployment is always voluntary
O b. Workers who are involuntarily unemployed cannot gain a job at any wage
O c. A Nash equilibrium exists
O d. Measured unemployment will be zero

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