When a market is not in equilibrium a. government intervention is required to achieve equilibrium. b. consumers will organize into special interest groups to promote their agenda. c. firms will increase contributions to political action committees. d. the economic motives of sellers and buyers will move the market to its equilibrium. e. it will simply stay in a state of disequilibrium

When a market is not in equilibrium a. government intervention is required to achieve equilibrium. b. consumers will organize into special interest groups to promote their agenda. c. firms will increase contributions to political action committees. d. the economic motives of sellers and buyers will move the market to its equilibrium. e. it will simply stay in a state of disequilibrium

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section7.4: Putting Supply And Demand Together

Problem 4R

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Evaluate the set of events below. Determine how the events will impact their respective markets. a. In examining the market for personal computers, a technological improvement reduces the cost of production. The effect of the event will be (Click to select) As a result, the equilibrium price will (Click to select) b. In examining the market for smart phones, there is a reduction in the number of sellers. The effect of the event will be (Click to select) As a result, the equilibrium price will (Click to select) c. In examining the market for apps for smart devices, there is a tax levied on the sellers of apps. The effect of the event will be (Click to select) in (Click to select) and the equilibrium quantity will (Click to select) in (Click to select) As a result the equilibrium price will Chick to select) and the equilibrium quantity will (Click to select) in (Click to select) and the equilibrium quantity will Click to select)
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