The following question are based on the following diagram:
-For a market to exhibit excess supply
A) demand must exceed supply.
B) the market must be growing.
C) demand must increase.
D) the equilibrium price must be too high to clear the market.
E) the actual price must be above the equilibrium price.
Correct Answer:
Verified
Q39: A decrease in supply
A) is unrelated to
Q40: There is neither excess supply nor excess
Q41: In a free market,producers' desires to maximize
Q42: The following question are based on the
Q43: If actual price is above equilibrium price
A)
Q45: In a free market,the price system determines
Q46: In a market economy,who gets what
A) depends
Q47: In a free market,actual price will
A) remain
Q48: The following question are based on the
Q49: According to economic analysis,shortages of a good
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