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Determining Market Price Detailed Questions And Expert Answers
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Determining Market Price Detailed Questions And Expert Answers
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Determining Market Price Detailed QuestionsAnd Expert Answers
What happens when the quantity of goods is higher than demand? - ANS excess
supply
How many goods must be supplied to achieve equilibrium? - ANS 15
What does "Q" represent on the graph? - ANS the quantity at the equilibrium point
Which occurs during market equilibrium? Check all that apply. - ANS Supply and
demand meet at a specific price.
Supply and demand meet at a specific quantity.
Supply and demand meet at a demand point.
Supply and demand meet at a supply point.
On a graph, a(n) _____ shows the demand portion of equilibrium. - ANS demand
curve
Both excess supply and excess demand are a result of - ANS disequilibrium.
If supply for a product is high but demand is low, what most likely needs to happen
to achieve equilibrium? - ANS The price of the product must go down.
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