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If the Quantity Demanded Exceeds the Quantity Supplied, Then There

Question 253

Multiple Choice

If the quantity demanded exceeds the quantity supplied, then there is


A) a shortage and the price is below the equilibrium price.
B) a shortage and the price is above the equilibrium price.
C) a surplus and the price is below the equilibrium price.
D) a surplus and the price is above the equilibrium price.

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