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Suppose That a Market for a Product Is in Equilibrium

Question 38

Multiple Choice

Suppose that a market for a product is in equilibrium at a price of $5 per unit. At any price above $5 per unit


A) there will be an excess demand for the product.
B) there will be an excess supply of the product.
C) the quantity supplied of the product will be less than the quantity demanded of that product.
D) there will be a shortage of that product.

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