Multiple Choice
The current price of blue jeans is $30 per pair, but the equilibrium price of blue jeans is $25 per pair. As a result, which of the following statements is not true?
A) The quantity supplied of blue jeans exceeds the quantity demanded of blue jeans at the $30 price.
B) The equilibrium quantity of blue jeans exceeds the quantity demanded at the $30 price.
C) There is a surplus of blue jeans at the $30 price.
D) There is a shortage of blue jeans at the $30 price.
Correct Answer:
Verified
Related Questions
Q249: Table 4-6 Q250: Suppose that demand for a good increases Q251: Which of the following would not increase Q252: Suppose the number of buyers in a
