At equilibrium
A) quantity supplied is equal to quantity demanded.
B) quantity demanded is greater than quantity supplied.
C) quantity supplied is greater than quantity demanded.
Correct Answer:
Verified
Q28: A supply schedule may be depicted
A)only by
Q29: When the market price is above equilibrium
Q30: If market price is below equilibrium price,
A)equilibrium
Q31: When demand falls and supply remains the
Q32: If the government set a price ceiling
Q34: The supply curve slopes
A)upward to the right.
B)upward
Q35: When supply falls and demand remains the
Q36: As price rises,quantity demanded
A)rises.
B)falls.
C)remains the same.
Q37: Statement I: The demand curve slopes downward
Q38: There is a surplus of quantity supplied
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