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-At a Price of P₀ in the Above Figure, Which

Question 374

Multiple Choice

-At a price of P0 in the above figure, which of the following statements is FALSE? A) Quantity demanded equals quantity supplied. B) There is an equilibrium in the market. C) P0 is the market clearing price. D) There is a surplus equal to Q0.
-At a price of P₀ in the above figure, which of the following statements is FALSE?

A) Quantity demanded equals quantity supplied.
B) There is an equilibrium in the market.
C) P₀ is the market clearing price.
D) There is a surplus equal to Q₀.

Correct Answer: