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Suppose there are two goods in the market,XandY. For some reason, markets are not clearing such thatZx>ZywhereZiis the market excess demand for goodi. Which of
Suppose there are two goods in the market,XandY. For some reason, markets are not clearing such thatZx>ZywhereZiis the market excess demand for goodi. Which of the following statements are true? (check all that apply)
a.The price of good x is relatively too cheap
b.The price of good y is relatively too cheap
c.The price of good x is relatively too expensive
d.The price of good y is relatively too expensive
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