When the Market Price of a Good Is Above Its

question 43

Multiple Choice

When the market price of a good is above its equilibrium value, and all other determinants are unchanged

• A) a shortage will exist in the market.
• B) the quantity demanded will be greater than the quantity supplied.
• C) the government will regulate the price of the good to ensure equilibrium is attained.
• D) a surplus will exist in the market.

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Definitions:

Therapeutic Approach

A method or strategy used in treatment to aid in the healing process or achieve specific outcomes.

Staff Member

An individual who is employed by an organization or institution and contributes to its operations or services.

Oppositional Defiant Disorder (ODD)

A behavior disorder in children and adolescents characterized by excessive anger, vindictiveness, defiance, and often hostility toward authority figures.

Negative Hostile

Characterized by feelings of bitterness and aggression towards others or situations, often resulting in a pessimistic view of social interactions.