In free markets, surpluses lead to:
A) lower prices.
B) higher prices.
C) stable prices.
D) unexploited gains from trade.
Correct Answer:
Verified
Q5: Figure: Price Adjustment Q6: When there is a surplus of a Q7: Use the following to answer questions: Q8: When a surplus exists in a market, Q9: When the quantity supplied of a good Q11: In a market, the equilibrium condition is Q12: In free markets, shortages lead to: Q13: A market can be described by the Q14: When there is a shortage of 1,000 Q15: If sellers want to sell more products
Figure: Market
A) lower
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents