A Price at Which the Amount People Wish to Buy

question 28

Multiple Choice

A price at which the amount people wish to buy exceeds the amount that people wish to produce (given upward-sloping supply curves) :

• A)lies above the equilibrium, market clearing price.
• B)lies below the market clearing price.
• C)will induce a shift in the demand schedule to achieve equilibrium.
• D)is impossible.
• E)is none of the above.

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