What happens if price falls below the market clearing price?
A) Demand shifts out.
B) Supply shifts in.
C) Quantity demanded decreases, quantity supplied increases, and price falls.
D) Quantity demanded increases, quantity supplied decreases, and price rises.
D
Economics
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If a legal ceiling price is set above the equilibrium price:
A. a shortage of the product will occur. B. a surplus of the product will occur. C. a black market will evolve. D. neither the equilibrium price nor the equilibrium quantity will be affected.
Economics
Refer to the above data. This nation's exports are:
$9 billion $28 billion $16 billion $24 billion
Economics