Which of the following statements is false?
A) When a market is in equilibrium, excess demand is zero.
B) When a market is in equilibrium, quantity demanded equals quantity supplied.
C) When a market is in equilibrium, a price is established that clears the market.
D) When a market is in equilibrium, shortages may still exist.
Correct Answer:
Verified
Q1: Which of the following statements is false?
A)
Q3: At the market equilibrium price:
A) there is
Q4: When a demand schedule is graphed, it
Q5: At the prices below the equilibrium price:
A)
Q6: At the prices below the equilibrium prices:
A)
Q7: At the prices above the equilibrium price:
A)
Q8: At the prices above the equilibrium prices:
A)
Q9: The demand curve:
A) slopes down and to
Q10: The supply curve:
A) shows the quantity supplied
Q11: All the following statements are incorrect except:
A)
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