Assume the market for cell phone service is initially in equilibrium. An increase in supply would cause a surplus at the initial equilibrium price
The market adjustment would then involve a decrease in price which would in turn cause quantity demanded to increase and quantity supplied to decrease until equilibrium is reestablished. Indicate whether the statement is true or false
TRUE
Economics
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The measured unemployment rate tends to overstate the unemployment problem
Indicate whether the statement is true or false
Economics
The amount by which government expenditures exceed revenues during a particular year is the:
A. public debt. B. budget deficit. C. full employment. D. GDP gap.
Economics