Multiple Choice
Which of the following statements is false?
A) At equilibrium in a market,scarcity does not exist.
B) If there is a shortage of 100 units at a price of $2 per unit,the shortage will be greater than 100 units at a price of $1 per unit.
C) If there is a surplus of 30 units at a price of $3,the surplus will be less than 30 units (or even nonexistent) at a price of $2.
D) If there is a surplus,suppliers will not be able to sell all they had hoped to sell at a particular price.
Correct Answer:
Verified
Correct Answer:
Verified
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