Table 9.1 -Table 9.1 Represents 3 Markets for Used Computers. Which of Which

question 317

Multiple Choice

Table 9.1
-Table 9.1 represents 3 markets for used computers. Which of the markets in Table 14.1 are NOT in equilibrium?

• A) 1 only
• B) 2 only
• C) 3 only
• D) 1 and 3

---

Definitions:

Maximize Profits

The process by which a firm chooses its production level and pricing strategy to earn the highest possible profit based on its costs and market demand.

Productivity

An indicator of production effectiveness typically expressed as the proportion of products generated to the resources used in creating them.

Output

The amount of goods or services produced by a company, industry, or economy within a particular period.

Input

Inputs like workforce, raw materials, and financial assets employed in the process of manufacturing products or delivering services.