If the price of a good is above the equilibrium price,then
A) the government needs to set a higher price.
B) firms,dissatisfied with growing inventories,will raise the price.
C) consumers,wanting to ensure they acquire the good,will bid the price lower.
D) the government needs to set a lower price.
E) firms,dissatisfied with growing inventories,will lower the pricE.
Correct Answer:
Verified
Q40: If the market for coffee has excess
Q41: A surplus exists when
A) quantity supplied exceeds
Q42: A market comprised of a downward-sloping demand
Q43: Market Equilibrium Q44: A shortage occurs when Q46: Suppose that the demand curve for a Q47: If price is above the equilibrium value,then Q48: Suppose that the demand curve for a Q49: Market Equilibrium Q50: When the price of a good is
![]()
A) demand is greater
A)
![]()
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents