The guiding function of price is
A) the movement of price to clear the market of any shortages or surpluses.
B) the use of price as a signal to guide government on the use of market subsidies.
C) a long-run function resulting in the movement of resources into or out of markets.
D) the movement of price as a result of changes in the demand for a product.
Correct Answer:
Verified
Q3: The rationing function of price
A)occurs when there
Q4: Which of the following will result in
Q5: How long is the "short-run" time period
Q6: A movement along a demand curve may
Q7: Which of the following refers to a
Q9: In the long run if there is
Q10: Which of the following best describes the
Q11: Coke and Pepsi are substitutes if
A)the demand
Q12: In the short-run if there is a
Q13: All of the following are non-price determinants
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