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17) At a product's equilibrium price A) anyone who needs the product will be able to buy the product, regardless of ability to pay. B) the federal government will provide the product to anyone who cannot afford it. C) not all sellers who are willing to accept the price will nd buyers for their products. D) any buyer who is willing and able to pay the price will nd a seller for the product. Figure 3-3 Graph 1 Graph n Plies Me- sum Dam DOME m a many 18) Refer to Figure 3-3. The gure above shows the supply and demand curves for two markets: the market for original Michelangelo sculptures and the market for Ray Ban sunglasses. Which graph most likely represents which market? A) Graph B represents the market for original Michelangelo sculptures and Graph A represents the market for Ray Ban sunglasses. B) Graph A represents the market for original Michelangelo sculptures and Graph B represents the market for Ray Ban sunglasses. C) Graph A represents both the market for original Michelangelo sculptures and Ray Ban sunglasses. D) Graph B represents both the market for original Michelangelo sculptures and Ray Ban sunglasses. \f21) Refer to Figure 3-4. If the current market price is $25, the market will achieve equilibrium by A) a price increase, increasing Jrhe supply and decreasing the demand. B) a price decrease, decreasing the supply and increasing the demand. C) a price decrease, decreasing the quantity supplied and increasing the quantity demanded. D) a price increase, increasing the quantity supplied and decreasing the quaniity demanded. 22) If the quantity demanded for a product exceeds the quantity supplied, the market price will rise until A) the quantity demanded equals the quantity supplied. The product will then no longer be scarce. B) quantity demanded equals quantity supplied. The equilibrium price will then be greater than the market price. C) only wealthy consumers will be able to afford the product. D) quantity demanded equals quantity supplied. The market price will then equal the equilibrium price