Consider a Market Where the Demand Curve Is Downward Sloping

question 83

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 $9.00 and the seller's willingness to accept for the hundredth unit $9.00,then the ________.

• A) equilibrium quantity is less than 100 units
• B) equilibrium quantity is more than 100 units
• C) willingness to accept exceeds the willingness to pay for the ninety-ninth unit
• D) willingness to pay exceeds the willingness to accept for the ninety-ninth unit

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Definitions:

Anticommunist Crusade

Political and social movements, especially during the Cold War, aimed at combatting and eradicating communist ideologies and influences.

Federal Government

The national government of the United States, which is responsible for areas like defense, foreign policy, and interstate commerce, distinct from state or local governments.

Loyalty Review System

A system implemented, especially during the Cold War in the United States, to assess the loyalty of government employees and others to the country.

Homosexuals

Refers to individuals who are romantically or sexually attracted to people of the same sex.