3. The Market Forces of Supply and Demand

A decrease in the supply of loanable funds will cause which of the following effects in the market for loanable funds?

Refer to Figure 5-1. With reference to Graph B, at a price of \$5, total revenue equals:

Which of the following best describes what happens to market equilibrium when the majority of consumers enter the market and it reaches its full market potential?

Whenever there is a shortage at a particular price, the quantity sold at that price will equal:

In a perfectly competitive market at equilibrium, what price will the firm charge?

Which ability or function of a company most strongly suggests it may hold monopoly power?

In order to derive the market supply curve from individual supply curves, we add up the:

Which of these situations best illustrates market equilibrium?

Which graph most accurately reflects demand and supply in the money market?

Equilibrium occurs when supply and demand coordinate to:

In the context of market equilibrium, what is most likely to happen to a firm that continues to produce the same products in a saturated market?

At market equilibrium, the equilibrium quantity is:

Refer to the diagram. A price of \$60 in this market will result in:

The point where supply and demand meet and prices are set is called:

Which point on the labor market graph represents the equilibrium wage?