When quantity demanded exceeds quantity supplied,a:
A) shortage occurs and prices are bid up toward equilibrium.
B) shortage occurs and prices are pushed down toward equilibrium.
C) surplus occurs and prices are bid up toward equilibrium.
D) surplus occurs and prices are pushed down toward equilibrium.
Correct Answer:
Verified
Q40: One of the implications of the supply
Q154: Use the following to answer questions
Figure:
Q154: The market-clearing price
A) refers to a demand
Q156: Use the following to answer questions
Figure:
Q158: If a market is NOT at equilibrium:
A)
Q187: When people cannot buy all of a
Q188: A surplus exists:
A) any time the market
Q210: Markets work as if they are
A) guided
Q213: When production technology improves, supply increases and
Q283: At any price below the equilibrium price
A)
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