Multiple Choice
If the price of a good is below the equilibrium price,
A) there is a shortage and the price will rise.
B) the quantity demanded is equal to the quantity supplied and the price remains unchanged.
C) there is a shortage and the price will fall.
D) there is a surplus and the price will rise.
E) there is a surplus and the price will fall.
Correct Answer:
Verified
Correct Answer:
Verified
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