What will happen if the price were below the equilibrium price? Select one: O a. Quantity demanded would exceed quantity supplied and there would be a surplus O b. Quantity demanded would exceed quantity supplied and there would be a shortage O c. Quantity supplied would exceed quantity demanded and there would be a surplus O d. Quantity supplied would exceed quantity demanded and there would be a shortage Oe. Quantity supplied would equal quantity demanded and the market would clear
What will happen if the price were below the equilibrium price? Select one: O a. Quantity demanded would exceed quantity supplied and there would be a surplus O b. Quantity demanded would exceed quantity supplied and there would be a shortage O c. Quantity supplied would exceed quantity demanded and there would be a surplus O d. Quantity supplied would exceed quantity demanded and there would be a shortage Oe. Quantity supplied would equal quantity demanded and the market would clear
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
Problem 8PA
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What will happen if the price were below the
O a. Quantity demanded would exceed quantity supplied and there would be a surplus
O b. Quantity demanded would exceed quantity supplied and there would be a shortage
O c. Quantity supplied would exceed quantity demanded and there would be a surplus
O d. Quantity supplied would exceed quantity demanded and there would be a shortage
Oe. Quantity supplied would equal quantity demanded and the market would clear
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