The equilibrium price clears the market it is the

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The equilibrium price clears the market; it is the price at which ________ _________ A) Everything is sold B) Buyers spend all their money C) Quantity demanded equals quantity supplied D) Excess demand is zero E) c and d
When a market is in equilibrium
________ and ________ do not directly affect the demand curve
A change in price can cause a shift of a demand curve
A demand curve can shift because of changing A) incomes B) prices of related goods C) tastes D) all of the above
A supply curve is directly affected by
B) input costs C) government regulation D) all of the above An increase in price will cause a supply curve to shift to the left
If a price increase of good A increases the quantity demanded of good B, then good B is a
An increase in consumer income will increase demand for a _______ but decrease demand for a _________ A) substitute good, inferior good B) normal good, inferior good
C) inferior good, normal good D) normal good, complementary good Price ceilings are imposed increase price above the free market equilibrium price

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