In General,non-Equilibrium Prices Occur Because

question 14

Multiple Choice

In general,non-equilibrium prices occur because:

• A)information is imperfect and adjustment is costly.
• B)supply curves shift along stationary demand curves.
• C)demand curves shift along stationary supply curves.
• D)monopolists charge prices above marginal cost.

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Definitions:

Basis of Classification

The principle or criteria used to categorize or differentiate objects, ideas, or information.

Hotels

Accommodation facilities that provide temporary lodging, meals, and other services for travelers and tourists.

Moderately Priced

Items or services offered at a reasonable, average price, neither too expensive nor too cheap.

"Easy" Babies

infants who are generally calm, adapt quickly to new situations, have predictable patterns, and are not easily upset.