If the price system is allowed to function without interference and a surplus occurs,quantity demanded will _____________ and quantity supplied will _____________ until the price falls to its equilibrium.
A) rise,rise
B) fall,fall
C) rise,fall
D) fall,rise
Correct Answer:
Verified
Q135: When quantity demanded is greater than quantity
Q136: Which statement is true?
A)An effective price ceiling
Q137: What happens to quantity supplied when the
Q138: What happens to quantity demanded when price
Q139: Which situation below would represent a shortage
Q141: If the government set a price ceiling
Q142: As price falls,quantity supplied
A)rises.
B)falls.
C)remains the same.
Q143: If the government imposes a maximum price
Q144: If the government set a price floor
Q145: Usury laws are a form of price
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