9. If the price of a good is above the equilibrium price, a. there is a surplus

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9. If the price of a good is above the equilibrium price,

a. there is a surplus and the price will rise.

b. there is a surplus and the price will fall.

c. there is a shortage and the price will rise.

d. there is a shortage and the price will fall.

e. the quantity demanded is equal to the quantity supplied and the price remains unchanged.

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Study Guide For N. Gregory Mankiw's Principles Of Microeconomics

ISBN: 9783030019983

5th Edition

Authors: David R. Hakes

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Question Posted: Nov 14, 2024 03:01 AM

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9. If the price of a good is above the equilibrium price, a. there is a surplus

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Study Guide For N. Gregory Mankiw's Principles Of Microeconomics

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