When the Market Price of a Good Is Above Its

question 173

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 exceed the quantity supplied.
• C)Both the supply curve and the demand curve will shift to the right.
• D)A surplus will exist in the market.

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Definitions:

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