Multiple Choice
When the price of a good is
A) below the equilibrium price, quantity supplied exceeds quantity demanded and price rises.
B) above the equilibrium price, quantity demanded exceeds quantity supplied and price rises.
C) above the equilibrium price, quantity supplied exceeds quantity demanded and price falls.
D) below the equilibrium price, quantity demanded exceeds quantity supplied and price falls.
Correct Answer:
Verified
Correct Answer:
Verified
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