When the Market Price of a Good Is Above Its

question 249

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:

Ketoacidosis

A serious complication of diabetes resulting in high levels of ketones in the blood, indicating insufficient insulin.

Type 1 DM

Type 1 Diabetes Mellitus, an autoimmune condition where the pancreas produces little to no insulin.

Secondary DM

Diabetes mellitus that's not primarily due to pancreatic function but is the result of another medical condition or treatment.

Pancreatic Cells

Cells that make up the pancreas, including those that produce digestive enzymes and hormones like insulin.