Suppose that in the market for computer memory chips, the equilibrium price is $50 per chip. If the current price is $55 per chip, then there will be ______________ of memory chips. a. A shortage.b. A surplus.c. An equilibrium quantity.d. None of the above.
Suppose that in the market for computer memory chips, the equilibrium price is $50 per chip. If the current price is $55 per chip, then there will be ______________ of memory chips. a. A shortage.b. A surplus.c. An equilibrium quantity.d. None of the above.
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 21P
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Suppose that in the market for computer memory chips, the
a. A shortage.
b. A surplus.
c. An equilibrium quantity.
d. None of the above.
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