Consider a Market Where the Demand Curve Is Downward Sloping

question 97

Multiple Choice

Consider a market where the demand curve is downward sloping and the supply curve is upward sloping (so they are neither vertical nor horizontal) .If the consumers' willingness to pay for the hundredth unit is $7.00 and the seller's willingness to accept for the hundredth unit is $10.00,then the equilibrium ________.

• A) quantity is less than 100 units
• B) quantity is more than 100 units
• C) price is less than $7.00
• D) price is more than $10.00

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Definitions:

Group Technique

A strategy used to enhance group processes and dynamics, often employed in organizational, educational, and therapeutic settings to promote effective collaboration.

Family Systems Therapy

A form of psychotherapy that views the family as a complex system and seeks to treat the family as a whole, rather than focusing on individual members.

Consciously

In a state of awareness where thoughts, feelings, and actions are recognized and understood by the individual.

Unconsciously

Pertaining to the processes of the mind that occur without conscious awareness.