Multiple Choice
If we observe a market where the quantity supplied exceeds the quantity demanded, but the market price does not fall, then one explanation for this observation is
A) the market has a price ceiling in place.
B) consumers don't really like this product.
C) the market has a price floor in place.
D) sellers must produce a minimum quantity of the good, regardless of the demand for the product.
Correct Answer:
Verified
Correct Answer:
Verified
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