Answered: a diagram showing equilibrium of demand…

a diagram showing equilibrium of demand and supply, Excess supply is found ____________. a. above the equilibrium point b. below the equilibrium point c. on the equilibrium point d. all of these

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 16RQ: If demand is inelastic, will shifts in supply have a larger effect on equilibrium price or on...

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In a diagram showing equilibrium of demand and supply, Excess supply is found ____________. a. above the equilibrium point b. below the equilibrium point c. on the equilibrium point d. all of these

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