If the Price of a Good Is Above the Equilibrium

question 126

Multiple Choice

If the price of a good is above the equilibrium price,then

• A) the government needs to set a higher price.
• B) firms,dissatisfied with growing inventories,will raise the price.
• C) consumers,wanting to ensure they acquire the good,will bid the price lower.
• D) the government needs to set a lower price.
• E) firms,dissatisfied with growing inventories,will lower the pricE.

---

Definitions:

Visual Aid

Use of imagery or physical objects to support or clarify a presentation or message.

Line Graph

A type of chart used to display information as a series of data points connected by straight line segments, often used to track changes over time.

Pie Chart

A circular statistical graphic, which is divided into slices to illustrate numerical proportion.

Relationship Over Time

The development and evolution of a connection or association between individuals or entities over a period.