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.

Question

Quizplus · Accepted Answer

At equilibrium, scarcity still exists, but it is fully reflected in the market price. This means that while some consumers may not be able to afford the good or service they desire, the market price will ration the available supply to those who are willing and able to pay the market price. Therefore, option A is false.

Which of the Following Statements Is False