Suppose a Market Begins in Equilibrium

question 487

Multiple Choice

Suppose a market begins in equilibrium. If supply increases, then at the original equilibrium price the quantity demanded is

• A) is less than the quantity supplied and a surplus results.
• B) is less than the quantity supplied and a shortage results.
• C) exceeds the quantity supplied and a surplus results.
• D) exceeds the quantity supplied and a shortage results.

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Definitions:

Cross-Examination

The questioning of an opposing witness during a trial.

Witness

An individual who observes an event, action, or the signing of a document and can provide testimony about what they observed.

Motion To Dismiss

A legal proceeding where one party seeks to have a case or a portion of it dismissed by the court before a trial.

Liable

Being legally responsible for something, especially in the context of debts or legal judgments.