Quizzol

QUESTION:

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

a. there is a shortage and the price will fall

b. there is a surplus and the price will fall

c. there is a surplus and the price will rise

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

e. there is a shortage and the price will rise

ANSWER:

there is a surplus and the price will fall

Posted by Cleveland on August 30, 2024