Social Studies

1. Why do businesses seek a equilibrium price?
A)It ensures that competitors cannot offer lower prices
B)It attracts the largest possible number of consumers to the business
C)It provides the highest possible prices that consumers will pay for each product
D}It prevents shortages and surpluses by producing the right number of goods for the right price

2.What is a reason that market prices are not always the same as equilibrium prices?
A) Market prices are often set by buyers rather than by sellers.
B) Supply and demand are not well-understood by business owners.
C) The equilibrium is not always the most profitable price point.
D) Market prices sometimes reflect the relative prices of competitors rather than equilibrium.

3.How do markets keep producers from increasing prices?
A)Higher prices cause demand shifts
B)Higher prices cause supply shifts
C)Higher prices decrease quantity sold
D) Higher prices decrease consumer demand

I think
1)B
2)D
3)D

  1. 👍 1
  2. 👎 1
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asked by Reeses
  1. I think you're correct on all three. That said, I'm not sure we have tutors who are economics teachers, so double-check your text materials if you are unsure. You can also "google" equilibrium pricing, etc.

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    posted by Reed
  2. The correct answers are
    D
    D
    C

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  3. Anonymous is correct. THANK YOU SO MUCH!! 100%, 4/4 (because number 2 is worth 2 points)

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    posted by Reeses
  4. d
    d
    c

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  5. good job connexus students

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  6. d

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    posted by Michaela
  7. Ha!! If you were REALLY Ms.Sues husband you would know that she probably doesn't have a husband!! Ms does not indicate that your married!!! It would be Mrs!!!! :)))
    Love ya boos!! <3

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    posted by Loyal ;)
  8. THANK YOU SO MUUUUUUUUUUUUUCH ANONYMOUSE YOU ARE SO AWESOME

    TO ALL CONEXUS STUDENTS ANONYMOUSE IS CORRECT

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    posted by yeet
  9. sorry anonymous i put an E at the end of your username

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    posted by yeet
  10. D D C is correct for civics: lesson 7: unit 3

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  11. bh

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    posted by name
  12. Yep anonymous is right

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