The Table Given Below Reports the Quantity Demanded and Supplied

question 59

Multiple Choice

The table given below reports the quantity demanded and supplied of a commodity at different prices in a market.Table 3.5

-In a market where the price is restricted by price floors or price ceilings,

• A)all sellers will be able to sell everything they produce.
• B)surpluses and shortages will exist.
• C)all buyers will get what they want.
• D)disequilibrium will automatically correct itself.
• E)surpluses and shortages will put pressure on the price to move to its equilibrium.

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Definitions:

Organic Product

A substance or material originating from living beings or created through chemical processes involving organic compounds.

Reaction

A process resulting in the transformation of chemical substances into others through the breaking and formation of chemical bonds.

Organic Product

Chemical compounds produced by living organisms, typically characterized by their carbon-based structure.

Hydrophobic

Characteristic of molecules or parts of molecules that repel water or do not mix with water.