Multiple Choice
The market system automatically corrects a surplus condition in a competitive market by
A) raising the price of the commodity in question while increasing the quantity demanded.
B) raising the price of the commodity in question while decreasing the quantity demanded.
C) reducing the price of the commodity in question while increasing the quantity demanded.
D) reducing the price of the commodity in question while decreasing the quantity demanded.
Correct Answer:
Verified
Correct Answer:
Verified
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