Assume the Market for Hammers Is Perfectly Competitive and the Current

question 29

Multiple Choice

Assume the market for hammers is perfectly competitive and the current price is $15.If,at this price,the quantity of hammers demanded is 15,000,while the quantity supplied is 25,000,then

• A)the market for hammers is in equilibrium.
• B)the price of hammers is likely to increase.
• C)the price of hammers is likely to decrease.
• D)there would be no change in price.

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Definitions:

Partner

An individual with whom one shares a significant relationship, often in a personal, business, or collaborative context.

Romantic Loneliness

A feeling of sadness or emptiness caused by a lack of romantic relationships or emotional intimacy with others.

Involuntarily Single

Referring to individuals who desire to be in a romantic relationship but are unable to find a partner.

Fulfillment

A sense of satisfaction or happiness as a result of fully developing one's abilities or character.