Match these types of prices to their description by writing in the best choice in each blank. A. Equilibrium Price Term used by Middle Age philosophers to describe pricing such that justice is served. В. Price in a Free Market Term used to describe the inherent price of goods. Some think this is determined by the cost of production. C. Going Price D. Just Price The price of an economic good such that the amount of it that buyers wish to purchase in a certain time period is equal to the amount sellers are offering for sale. E. Natural Price The amount a willing seller will take and a willing buyer will pay. That range of prices for a good at which sellers can dispose of most of their goods and buyers with some intensity of demand for the good will be satisfied.

Match these types of prices to their description by writing in the best choice in each blank. A. Equilibrium Price Term used by Middle Age philosophers to describe pricing such that justice is served. В. Price in a Free Market Term used to describe the inherent price of goods. Some think this is determined by the cost of production. C. Going Price D. Just Price The price of an economic good such that the amount of it that buyers wish to purchase in a certain time period is equal to the amount sellers are offering for sale. E. Natural Price The amount a willing seller will take and a willing buyer will pay. That range of prices for a good at which sellers can dispose of most of their goods and buyers with some intensity of demand for the good will be satisfied.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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