Multiple Choice
If a price is above equilibrium,
A) A shortage will cause the price to fall and the quantity supplied to decrease.
B) A shortage will cause the price to rise and the quantity supplied to increase.
C) A surplus will cause the price to fall and the quantity supplied to decrease.
D) A surplus will cause the price to fall and the quantity supplied to increase.
Correct Answer:
Verified
Correct Answer:
Verified
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