Question
If the market price is below the equilibrium price, then: a surplus of product will result the quantity supplied will exceed the quantity demanded the
If the market price is below the equilibrium price, then:
a surplus of product will result
the quantity supplied will exceed the quantity demanded
the market supply curve will shift to the right
the quantity demanded will exceed the quantity supplied
the market demand will shift to the right
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Managerial Economics A Problem Solving Approach
Authors: Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
4th edition
1305259335, 978-1305259331
