Suppose the Equilibrium Price of Good X Is $25 and the Equilibrium

question 237

Multiple Choice

Suppose the equilibrium price of good X is $25 and the equilibrium quantity is 124 units.If the price of good X is $2:

• A)there will be excess demand for good X.
• B)there will be an excess supply of good X.
• C)the market will clear.
• D)the quantity demanded of good X will be less than 124 units.

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Entrepreneurs

Individuals who initiate, manage, and take on the risks of a business or enterprise with the goal of making a profit.