Multiple Choice
Which of the following statements about the interaction of demand and supply is true?
A) At prices above equilibrium, suppliers produce less than consumers are willing to buy.
B) A surplus of product pushes prices upward.
C) At prices below equilibrium, demand exceeds supply.
D) Government intervention is usually needed to achieve market equilibrium.
E) A shortage pushes prices downward.
Correct Answer:
Verified
Correct Answer:
Verified
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