Quizzol

QUESTION:

If the price of a good is below the equilibrium price, ________.

a. there is a shortage and the price will fall

b. the quantity demanded is equal to the quantity supplied and the price remains unchanged

c. there is a surplus and the price will rise

d. there is a shortage and the price will rise

e. there is a surplus and the price will fall

ANSWER:

d. there is a shortage and the price will rise

Posted by Cleveland on August 30, 2024