Multiple Choice
Which of the following could explain why there was a stampede at the Richmond International Raceway where 1,000 laptops were being sold at $50 each?
A) The demand for laptops is not very responsive to price.
B) The price of $50 per laptop was above the equilibrium price of laptops.
C) The quantity of laptops demanded at $50 was higher than the quantity supplied.
D) The people who bought the laptops at that price were those who valued laptops the most.
Correct Answer:
Verified
Correct Answer:
Verified
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