If the Price in the Market for a Commodity Is

question 5

Multiple Choice

If the price in the market for a commodity is above the market equilibrium price, the:

• A) price will remain unchanged.
• B) price will rise to clear the market.
• C) quantity supplied exceeds the quantity demanded.
• D) quantity demanded exceeds the quantity supplied.

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Definitions:

Product Line

A group of closely related products that are treated as a unit because of similar marketing strategy, production, or end-use considerations.

Bonds

Debt instruments that larger companies sell to raise long-term funds.