Each of these is true at equilibrium except that
A) quantity demanded is equal to quantity supplied.
B) the market is said to clear,there is not surplus or shortage.
C) the buyers can buy as much as they want at the market price.
D) the sellers can sell as much as they want at the market price.
E) All of these statements are true at equilibrium.
Correct Answer:
Verified
Q22: If demand rises and supply remains the
Q23: The demand curve slopes
A)upward to the right.
B)upward
Q24: In general demand curves slope _ and
Q25: The law of supply
A)states that price and
Q26: An increase in equilibrium quantity would result
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
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