Multiple Choice
If the market price falls from P0 to P1 in the above figure, then
A) a new equilibrium quantity is established.
B) there is a shortage equal to the distance EF.
C) there will be a further tendency for price to fall.
D) there is a surplus of goods on the market equal to the distance Q1, Q2.
Correct Answer:
Verified
Correct Answer:
Verified
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