Question 4501:

Given Demand function: Q_{d}=5 P+10; Supply function: Q_{s}=7 P-5.
The equilibrium quantity is ____________

A. 50
B. 55
C. 75.5
D. 47.5
E. 55.5

Question 4502:

In market economies, resources are allocated through the ____________

A. Government authorities
B. Price system
C. Banking system
D. Central planning bureau
E. Revenue allocation formula

Question 4503:

In the operation of market forces, the market is in equilibrium at the point where ____________

A. Demand and supply curve intersects in more than one point
B. The excess in the market
C. Excess demand is positive curves intersect
D. Demand and supply can be conveniently stored
E. Excess demand is negative

Question 4504:

The basic feature of a market economy is ____________

A. The reduction in the power of sellers the enthronement of consumer sovereignty
B. The dismantling of barriers to trade
C. The perfectly elastic price for every transaction
D. The intersection of demand and supply curves

Question 4505:

The following are the conditions that must be fulfilled for price ____________ determination EXCEPT

A. Market merger
B. Market segmentation
C. Demand elasticities differentiation
D. Product
E. None of the above