When the market price is above equilibrium price,the market price will be driven
A) up by buyers.
B) up by sellers.
C) down by buyers.
D) down by sellers.
Correct Answer:
Verified
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
Q27: Each of these is true at equilibrium
Q28: A supply schedule may be depicted
A)only by
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
Q33: At equilibrium
A)quantity supplied is equal to quantity
Q34: The supply curve slopes
A)upward to the right.
B)upward
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