When market price is below equilibrium price
A) a shortage is generated.
B) a surplus is generated.
C) quantity demanded is greater than quantity supplied.
D) then both a shortage is generated and quantity demanded is greater than quantity supplied, but a surplus is not generated.
E) then both a surplus is generated and quantity demanded is greater than quantity supplied, but a shortage is not generated.
Correct Answer:
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Q85: When there is a surplus
A)quantity demanded is
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Q104: If the quantities in the demand schedule
Q105: When the price is $2
A)quantity supplied is
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A)when quantity
Q109: As price rises,quantity supplied
A)rises.
B)falls.
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Q114: Which statement is false?
A)Rent control is a
Q118: A decrease in equilibrium quantity would result
Q119: When the price is $3
A)quantity supplied is
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