The equilibrium or market price exists when the supply of a product exceeds the amount that consumers are willing to purchase. Group of answer choices True False

Suppose that each firm in a competitive industry has the following costs: total cost: tc=50+12q2tc=50+12q2 marginal cost: mc=qmc=q where qq is an individual firm's quantity produced. the market demand curve for this product is: demand qd=160−4pqd=160−4p where pp is the price and qq is the total quantity of the good. each firm's fixed cost is.

Overspeculation and a decrease in consumer confidence are both leading factors of: ?

scenario: hawaii and south carolina are trading partners. hawaii has an absolute advantage in the production of both coffee and tea. the opportunity cost of producing 1 pound of tea in hawaii is 2 pounds of coffee, and the opportunity cost of producing 1 pound of tea in south carolina is 1/3 pound of coffee. which of the following statements is true? a. south carolina should specialize in the production of both tea and coffee. b. hawaii should specialize in the production of tea, whereas south carolina should specialize in the production of coffee. c. hawaii should specialize in the production of coffee, whereas south carolina should specialize in the production of tea. d. hawaii should specialize in the production of both tea and coffee.