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The market price is


A) the exact price a product sells for at a specific time.
B) the typical price at which a good or service sells.
C) always easy to determine.
D) usually higher than the equilibrium price.

E) A) and D)
F) A) and C)

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The demand schedule is a description of the behavior of _____ in a market.


A) sellers
B) buyers
C) a supply schedule
D) a demand schedule

E) B) and C)
F) All of the above

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In economics,satiation means


A) eventually the marginal value of the good consumed increases.
B) that you are full.
C) eventually the marginal value of the good consumed decreases.
D) that the market price has been attained.

E) B) and D)
F) B) and C)

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When you give up the opportunity to do something else,the value to you of that activity is called


A) opportunity demand.
B) opportunity cost.
C) market price.
D) equilibrium.

E) None of the above
F) A) and B)

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Explain why a demand curve slopes downward.

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As price decreases,the quantity demanded...

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