What happens if price falls below the market clearing price?
A. Supply shifts in.
B. Demand shifts out.
C. Quantity demanded decreases, quantity supplied increases, and a surplus results.
D. Quantity demanded increases, quantity supplied decreases, and a shortage results.
D. Quantity demanded increases, quantity supplied decreases, and a shortage results.
Economics
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An industry characterized by only a few firms in the market is called: a. a monopoly
b. monopolistic competition. c. an oligopoly. d. perfect competition.
Economics
The major problem with using rabbits as money is the problem of
a. homogeneity b. divisibility c. portability d. durability e. scarcity or abundance
Economics