Multiple Choice
In competitive markets, a surplus or shortage will
A) never exist because the markets are always at equilibrium.
B) cause changes in the quantities demanded and supplied that tend to eliminate the surplus or shortage.
C) cause shifts in the demand and supply curves that tend to eliminate the surplus or shortage.
D) cause changes in the quantities demanded and supplied that tend to intensify the surplus or shortage.
Correct Answer:
Verified
Correct Answer:
Verified
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