If the price of a good starts out below the equilibrium price without a price control, then (please choose all the answers that are correct) A. suppliers will supply less, pushing the price down B. consumers will compete to bid the price up C. suppliers will compete to bid the price up D. the market starts with a surplus of supply over demand E. consumers will demand more than the equilibrim quantity
If the price of a good starts out below the equilibrium price without a price control, then (please choose all the answers that are correct) A. suppliers will supply less, pushing the price down B. consumers will compete to bid the price up C. suppliers will compete to bid the price up D. the market starts with a surplus of supply over demand E. consumers will demand more than the equilibrim quantity
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter7: Demand And Supply
Section: Chapter Questions
Problem 2AA
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Question
If the
(please choose all the answers that are correct)
A. |
suppliers will supply less, pushing the price down |
|
B. |
consumers will compete to bid the price up |
|
C. |
suppliers will compete to bid the price up |
|
D. |
the market starts with a surplus of supply over demand |
|
E. |
consumers will demand more than the equilibrim quantity |
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