If the Price in a Market Is Above Its Equilibrium

question 97

Multiple Choice

If the price in a market is above its equilibrium level, there will be a:

• A) surplus and downward pressure on price.
• B) surplus and upward pressure on price.
• C) shortage and downward pressure on price.
• D) shortage and upward pressure on price.

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Definitions:

Liverworts

A group of non-vascular plants belonging to the plant division Marchantiophyta, often found in moist, shaded environments.

Lycopodiophyta

A division of plants, commonly known as clubmosses, characterized by a primitive vascular system, often found in moist, shaded environments.

Hepaticophyta

A division of non-vascular plants commonly known as liverworts, which are simple plants that form flat green thalli.

Anthocerophyta

A division of non-vascular plants known as hornworts, characterized by a horn-like structure that contains the plant's reproductive organs.