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The supply and demand model shows us that: Select one: a.if there is a shortage in a market, competition will make the price rise and
The supply and demand model shows us that:
Select one:
a.if there is a shortage in a market, competition will make the price rise and the shortage will be eliminated
b.profit seeking firms will push the price so high that eventually nobody will buy the good and the market will dissolve
c.if there is a surplus in a market, buyers will change their preferences and decrease their demand until the surplus is gone.
d.once a market reaches equilibrium, the market price will stay the same, even if supply and demand change in the future.
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