Multiple Choice
Assume that the equilibrium price for a good is $5. If the market price is $10, a:
A) shortage causes the price to decline toward $5.
B) surplus causes the price to rise above $10.
C) shortage causes the price to rise above $10.
D) surplus causes the price to decline toward $5.
Correct Answer:

Verified
Correct Answer:
Verified
Q153: A decrease in the number of dry
Q154: To finance medical care, the federal government
Q155: A shift occurs in the supply curve
Q156: Exhibit 3-6 Milk market<br> <table border="1" cellspacing="0"
Q157: When the price of a good is
Q159: A movement along a demand curve is
Q160: The use of a price system eliminates:<br>A)
Q161: If the current market price is above
Q162: A technological improvement in the production of
Q163: A demand curve for The Steel Porcupines'