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If the equilibrium price of a product was $4 and the actual price charged in the market was $2, you would expect: A Surplus of

If the equilibrium price of a product was $4 and the actual price charged in

the market was $2, you would expect:

  • A Surplus of this product at $4
  • The equilibrium price to fall to $2
  • A shortage of this product at $2
  • The equilibrium price to rise to $3
  • The Amount demanded to equal the amount supplied

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