Suppose That a Market for a Product Is in Equilibrium

question 15

Multiple Choice

Suppose that a market for a product is in equilibrium at a price of $3 per unit. At any price below $3 per unit

• A) there will be an excess demand for the product.
• B) there will be an excess supply of the product.
• C) the quantity demanded of the product will be less than the quantity supplied of that product.
• D) there will be a surplus of that product.

---

Definitions:

Word Fluency

The ability to rapidly generate words that fit a specific criterion, such as beginning with a certain letter, within a fixed time limit.

Deductive Reasoning

The deduction of a final thought through the combination of several premises that are ordinarily seen as legitimate.

Protects Health

Actions or behaviors undertaken to guard against illness and maintain physical and mental well-being.

Attitudes

A settled way of thinking or feeling about something, often reflected in a person's behavior.