Multiple Choice
When the market price is above equilibrium then ____ and when the market price is below equilibrium, then ____.
A) quantity demanded is greater than quantity supplied; quantity supplied is greater than quantity demanded.
B) quantity supplied is greater than quantity demanded; quantity supplied is greater than quantity demanded.
C) quantity supplied is greater than quantity demanded; quantity demanded is greater than quantity supplied
D) the market is in equilibrium; the market is in equilibrium.
Correct Answer:
Verified
Correct Answer:
Verified
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