If market price is below equilibrium price,
A) equilibrium price will rise.
B) equilibrium price will fall.
C) market price will rise.
D) market price will fall.
Correct Answer:
Verified
Q25: The law of supply
A)states that price and
Q26: An increase in equilibrium quantity would result
Q27: Each of these is true at equilibrium
Q28: A supply schedule may be depicted
A)only by
Q29: When the market price is above equilibrium
Q31: When demand falls and supply remains the
Q32: If the government set a price ceiling
Q33: At equilibrium
A)quantity supplied is equal to quantity
Q34: The supply curve slopes
A)upward to the right.
B)upward
Q35: When supply falls and demand remains the
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