The Price of a Good Will Fall If

question 93

Multiple Choice

The price of a good will fall if

• A) there is a surplus at the current price.
• B) the current price is less than the equilibrium price.
• C) the quantity demanded exceeds the quantity supplied.
• D) the price of a complement in consumption falls.

---

Definitions:

Freshman Class

The group of students in their first year at a high school, college, or university.

Graduated

Having completed a course of study and received a diploma or degree from an educational institution.

Alternative Hypothesis

A statement in statistics that indicates something is true, different from the null hypothesis, usually suggesting a new effect or phenomenon.

University

An institution of higher education and research, which awards academic degrees in various academic disciplines.