In situations of exces demand, sellers might lower quality when they are unable to raise prices because they with to: A reduce excess demand. B raise their profit levels. C decrease surpluses. D raise their sales.

In situations of exces demand, sellers might lower quality when they are unable to raise prices because they with to: A reduce excess demand. B raise their profit levels. C decrease surpluses. D raise their sales.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter5: Buying The Necessities

Section5.2: Cloting Choices

Problem 1R

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

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In situations of exces demand, sellers might
lower quality when they are unable to raise
prices because they with to:
A reduce excess demand.
B raise their profit levels.
C decrease surpluses.
D raise their sales.

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