If the Supply and Demand Curves Cross at a Quantity

question 77

Multiple Choice

If the supply and demand curves cross at a quantity of 100, then the price necessary to get firms to sell more than that will have to be _______ equilibrium.

• A)above
• B)at
• C)below
• D)within 10% either way of

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Definitions:

Denominator

The bottom number in a fraction that shows how many equal parts the item or group is divided into.

Categorical Variable

A variable with categorical data.

Dummy Variables

Variables used in regression analysis to represent categorical data by converting it into a series of binary values.

Levels

The different values or categories that a factor can have in an experiment or statistical model.