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From Figure 7.1 in the text, what happens when government sets prices below the competitive equilibrium price? Question 2 options: supply exceeds demand People consume
From Figure 7.1 in the text, what happens when government sets prices below the competitive equilibrium price? Question 2 options: supply exceeds demand People consume more than they should Suppliers make up for the lower price by selling more quantity thus preserving revenue demand exceeds supply
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Macroeconomics
Authors: Stephen d. Williamson
5th edition
132991330, 978-0132991339
