If the price is below equilibrium in a free market:
A) The price will fall to restore equilibrium.
B) There will be a surplus.
C) There will be a shortage.
D) The government will intervene.
Correct Answer:
Verified
Q4: An increase in supply is likely to
Q5: If there is a shortage in a
Q6: If there is a surplus in a
Q7: An increase in indirect tax will usually
Q8: If demand increases the supply curve will
Q9: In a free market the price will
Q10: If supply and demand are equal and
Q12: A decrease in indirect tax will usually
Q13: Producers and consumers make decisions:
A) Interdependently
B) Through
Q14: A market that is initially in equilibrium
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