Multiple Choice
Suppose a market begins in equilibrium. If supply increases, then at the original equilibrium price the quantity demanded is
A) is less than the quantity supplied and a surplus results.
B) exceeds the quantity supplied and a shortage results.
C) is less than the quantity supplied and a shortage results.
D) exceeds the quantity supplied and a surplus results.
Correct Answer:
Verified
Correct Answer:
Verified
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