Micro 2.6-Equilibrium Price and Equilibrium Quantity-Grebes

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13 questions

Can we solve this problem WITHOUT A GRAPH?

1

Can we solve this problem WITHOUT A GRAPH?

Under these conditions, competitive market forces would tend to establish an equilibrium price of dollars per Greebe and an equilibrium quantity of _____million Greebes. Format: #,#

If the price currently prevailing in the market is $0.30 per Greebe, buyers would want to buy _ million Greebes and sellers would want to sell _million Greebes. Format: #,#

Under these conditions, there would be a _____________ of _million Greebes.

shortage

surplus

50

100

Competitive market forces would tend to cause the price to ______ to a price of per Greebe.

increase

decrease

0.25

0.30

At this new price, buyers would now want to buy _ million Greebes, and sellers now want to sell million Greebes. Format: #,#

Because of this change in price back to equilibrium, the __________________ would change by _ million Greebes.

quantity demand

demand

+50

-50

Because of this change in price back to equilibrium, the __________________ would change by _ million Greebes.

quantity supply

demand

+50

-50

What If the price currently prevailing in the market is $0.20 per Greebe, buyers would want to buy ____million Greebes, and sellers would want to sell ______million Greebes. Format: #,#

Under these conditions, there would be a ______________ of million Greebes.

Competitive market forces would tend to cause the price to __________ to a price of per Greebe.

increase

decrease

0.25

0.20

At this new price, buyers would now want to buy ___million Greebes, and sellers now want to sell _ million Greebes. Format: #,#

Because of this change in price back to equilibrium, the ___________________ would change by _ million Greebes.

demand

quantity demand

-50

50

Because of this change in price back to equilibrium, the ____________ would change by _ million Greebes.

supply

quantity supply

+50

-50

Under these conditions, there would be a _________________ of _____million Greebes.

shortage

surplus

50

100

Competitive market forces would tend to cause the price to __________ to a price of ____per Greebe.

increase

decrease

0.25

0.30

Because of this change in price back to equilibrium, the ______________________ would change by _____ million Greebes.

quantity demand

demand

+50

-50

Because of this change in price back to equilibrium, the ______________________ would change by _____ million Greebes.

quantity supply

demand

+50

-50

Under these conditions, there would be a ____________________ of ______million Greebes.

shortage

surplus

50

100

150

Competitive market forces would tend to cause the price to ________________ to a price of ______per Greebe. 

increase

decrease

0.25

0.20

Because of this change in price back to equilibrium, the _______________________ would change by _____ million Greebes.

demand

quantity demand

-50

50

Because of this change in price back to equilibrium, the ________________ would change by _____ million Greebes.

supply

quantity supply

+50

-50

Micro 2.6-Equilibrium Price and Equilibrium Quantity-Grebes

Under these conditions, competitive market forces would tend to establish an equilibrium price of ____dollars per Greebe and an equilibrium quantity of _________million Greebes. Format: #,#

If the price currently prevailing in the market is $0.30 per Greebe, buyers would want to buy _______ million Greebes and sellers would want to sell _______million Greebes. Format: #,#

At this new price, buyers would now want to buy _____ million Greebes, and sellers now want to sell ____ million Greebes. Format: #,#

What If the price currently prevailing in the market is $0.20 per Greebe, buyers would want to buy ____million Greebes, and sellers would want to sell ______million Greebes. Format: #,#

At this new price, buyers would now want to buy _______million Greebes, and sellers now want to sell _____ million Greebes. Format: #,#

Under these conditions, competitive market forces would tend to establish an equilibrium price of ____dollars per Greebe and an equilibrium quantity of _________million Greebes. Format: #,#

If the price currently prevailing in the market is $0.30 per Greebe, buyers would want to buy _______ million Greebes and sellers would want to sell _______million Greebes. Format: #,#

Under these conditions, there would be a _________________ of _____million Greebes.

Competitive market forces would tend to cause the price to __________ to a price of ____per Greebe.

At this new price, buyers would now want to buy _____ million Greebes, and sellers now want to sell ____ million Greebes. Format: #,#

Because of this change in price back to equilibrium, the ______________________ would change by _____ million Greebes.

Because of this change in price back to equilibrium, the ______________________ would change by _____ million Greebes.

Under these conditions, there would be a ____________________ of ______million Greebes.

Competitive market forces would tend to cause the price to ________________ to a price of ______per Greebe.

At this new price, buyers would now want to buy _______million Greebes, and sellers now want to sell _____ million Greebes. Format: #,#

Because of this change in price back to equilibrium, the _______________________ would change by _____ million Greebes.

Because of this change in price back to equilibrium, the ________________ would change by _____ million Greebes.

Under these conditions, competitive market forces would tend to establish an equilibrium price of dollars per Greebe and an equilibrium quantity of _____million Greebes. Format: #,#

If the price currently prevailing in the market is $0.30 per Greebe, buyers would want to buy _ million Greebes and sellers would want to sell _million Greebes. Format: #,#

At this new price, buyers would now want to buy _ million Greebes, and sellers now want to sell million Greebes. Format: #,#

What If the price currently prevailing in the market is $0.20 per Greebe, buyers would want to buy million Greebes, and sellers would want to sell __million Greebes. Format: #,#

At this new price, buyers would now want to buy ___million Greebes, and sellers now want to sell _ million Greebes. Format: #,#

Under these conditions, competitive market forces would tend to establish an equilibrium price of dollars per Greebe and an equilibrium quantity of _____million Greebes. Format: #,#

If the price currently prevailing in the market is $0.30 per Greebe, buyers would want to buy _ million Greebes and sellers would want to sell _million Greebes. Format: #,#

Under these conditions, there would be a _____________ of _million Greebes.

Competitive market forces would tend to cause the price to ______ to a price of per Greebe.

At this new price, buyers would now want to buy _ million Greebes, and sellers now want to sell million Greebes. Format: #,#

Because of this change in price back to equilibrium, the __________________ would change by _ million Greebes.

Because of this change in price back to equilibrium, the __________________ would change by _ million Greebes.

Under these conditions, there would be a ______________ of million Greebes.

Competitive market forces would tend to cause the price to __________ to a price of per Greebe.

At this new price, buyers would now want to buy ___million Greebes, and sellers now want to sell _ million Greebes. Format: #,#

Because of this change in price back to equilibrium, the ___________________ would change by _ million Greebes.

Because of this change in price back to equilibrium, the ____________ would change by _ million Greebes.