Multiple Choice
On a supply-and-demand diagram,consider a price for which the horizontal distance to the supply curve is shorter than the horizontal distance to the demand curve.There is a __________ at that price and the current price must be __________ the equilibrium price.
A) shortage; above
B) shortage; below
C) surplus; above
D) surplus; below
Correct Answer:
Verified
Correct Answer:
Verified
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