Multiple Choice
Suppose that a market for a product is in equilibrium at a price of $3 per unit. At any price below $3 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 demanded of the product will be less than the quantity supplied of that product.
D) there will be a surplus of that product.
Correct Answer:
Verified
Correct Answer:
Verified
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