Excess demand occurs:
A) whenever the market is in equilibrium.
B) whenever the market is not in equilibrium.
C) when price is above the equilibrium price.
D) when price is below the equilibrium price.
Correct Answer:
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Q29: When a market is in equilibrium:
A)there is
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Q34: Refer to the accompanying figure. At a
Q35: If price is above the equilibrium price,
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A)firms
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