When the Price of a Good Is

question 474

Multiple Choice

When the price of a good is

• A) below the equilibrium price, quantity supplied exceeds quantity demanded and price rises.
• B) below the equilibrium price, quantity demanded exceeds quantity supplied and price falls.
• C) above the equilibrium price, quantity supplied exceeds quantity demanded and price falls.
• D) above the equilibrium price, quantity demanded exceeds quantity supplied and price rises.

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