If the Price of a Good Is Initially Below the Equilibrium

question 27

Multiple Choice

If the price of a good is initially below the equilibrium level

• A)the supply curve will shift leftward.
• B)the supply curve will shift rightward.
• C)firms supply none of the good.
• D)excess demand exists.

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Definitions:

Dissolved Substances

are materials that are incorporated into a liquid (usually water) in molecular, ionized or micro-granular (colloidal sol) form, making them parts of the solution.

Vertical Zones

The layers or strata of ecosystems, particularly in forests and oceans, characterized by distinct habitats, flora, and fauna.

Euphotic

Relating to the upper layer of a body of water through which sunlight can penetrate and support photosynthesis.

Bathyal

Pertaining to the mid-water or bathypelagic zone in the ocean, typically between 200 and 2,000 meters deep.