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When the Price of a Good Is

Question 251

Multiple Choice

When the price of a good is


A) below the equilibrium price, quantity supplied exceeds quantity demanded and price rises.
B) below the equilibrium price, quantity demanded exceeds quantity supplied and price falls.
C) above the equilibrium price, quantity supplied exceeds quantity demanded and price falls.
D) above the equilibrium price, quantity demanded exceeds quantity supplied and price rises.

Correct Answer:

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