If the price for widgets was set at $4.25a)buyers would purchase all of the available widgets. b)producers would discover that the price was too low. c)buyers would purchase more widgets than are available. d)producers would discover that the price should be lowered.

Afirm is producing at minimum average total cost with its current plant. draw the firm's long-run average cost curve. label it. draw a point on the lrac curve at which the firm cannot lower its average total cost. draw the firm's short-run average total cost curve that is consistent with the point you have drawn. label it.g

How an absolute advantage might affect a country's imports and exports?

Which of the following most accurately describes how the equilibrium price of a good or service can be determined? a. by moving the supply curve right or left until it matches the demand curve. b. by finding where the supply curve and the demand curve intersect. c. by doing market research to determine the maximum price consumers will pay. d. by taking the opposite of the columns in a supply schedule and a demand schedule.