Question

e nour, Ub minutes, 46 seconds. Question Completion Status: The laws of supply and demand state that price and quantity demanded/supplied both have an inverse relationship True False QUESTIONS 1 points Producer surplus is defied as the additional benefit producers get above their cost from selling at the market price True False QUESTION 6 1 points sa If competitive markets are in disequilibrium the forces of competition will always push the market price back toward the equilibrium price, all other things being equal True False Chia Save and submit to save and the Saue Al t o dve all answers Sear

Answer 1

Q4
Answer
False
when other things are constant

The demand has an inverse relationship between price and quantity

The supply has a positive relationship between price and quantity.
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Q5
Answer
True
the Producer surplus is the amount in excess of costs when a produces sell at the market price
market price -marginal cost =producer surplus.
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Q6
ANswer
True
The market forces get back the prices and quantity in the equilibrium