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Free Exam: Lesson 11: Supply and Demand

Number of Questions in Test: 10
Number of Questions in Preview: 5
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Question 1

If you have a lot of convenience stores in a small area, they are all going to earn a huge profit. True or false?

Type: Multiple choice
Points: 1
Randomize answers: No

Question 2

The point at which demand equals supply and excess firms will exit the market is known as:

Type: Multiple choice
Points: 1
Randomize answers: No

Question 3

The fewer customers there are in a town, the better chance more stores will have of surviving. True or false?

Type: Multiple choice
Points: 1
Randomize answers: No

Question 4

Given: 20 stores; 20,000 customers; $5 per customer; gross margin of 32%; $3,200/week in expenses. How many stores will survive?

Type: Multiple choice
Points: 1
Randomize answers: No

Question 5

Profit is largely related to:

Type: Multiple choice
Points: 1
Randomize answers: No

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