Suppose That a Market Is Characterized as Follows: Consumers Are

question 161

Multiple Choice

Suppose that a market is characterized as follows: consumers are willing and able to purchase 100 units and sellers are willing and able to sell 70 units. Which of the following statements are true?

• A) There is a shortage of 30 units.
• B) The market is in equilibrium.
• C) The price in the market will decrease.
• D) Quantity demanded will increase.

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