One of the implications of the supply and demand model is that:
Question 33 options:
a)...
One of the implications of the supply and demand model is that:
Question 33 options:
a)
a market price below the equilibrium price will lead to a surplus.
b)
government action is not necessary for a market to achieve equilibrium.
c)
a rise in the price of a good always means that demand for it has increased.
d)
supply shifts to the left whenever demand falls.
Answers: 1
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