When the price of a good is higher than the equilibrium price,
A) a shortage will exist.
B) buyers desire to purchase more than is produced.
C) sellers desire to produce and sell more than buyers wish to purchase.
D) quantity demanded exceeds quantity supplied.
Correct Answer:
Verified
Q19: Equilibrium price must decrease when demand
A)increases and
Q20: If the supply of a product decreases,then
Q21: The law of supply and demand asserts
Q22: A surplus exists in a market if
A)there
Q23: When a shortage exists in a market,sellers
A)raise
Q25: If a shortage exists in a market,then
Q26: Which of the following would cause price
Q27: Suppose chocolate-dipped strawberries are currently selling for
Q28: Suppose that demand for a good decreases
Q29: Suppose roses are currently selling for $40
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