Fill in the blanks to make the following statements correct. a. Ceteris paribus, the price of a product and the quantity demanded are related positively b. Ceteris paribus, the price of a product and the quantity supplied are related negatively c. At any price above the equilibrium price, there will be excess supply At any price below the equilibrium price there will be excess demand

Macroeconomics
13th Edition
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter3: Supply And Demand: Theory
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Fill in the blanks to make the following statements correct.
a. Ceteris paribus, the price of a product and the quantity demanded are related positively
b. Ceteris paribus, the price of a product and the quantity supplied are related negatively
c. At any price above the equilibrium price, there will be excess supply At any price below the equilibrium price there will be excess demand
Transcribed Image Text:Fill in the blanks to make the following statements correct. a. Ceteris paribus, the price of a product and the quantity demanded are related positively b. Ceteris paribus, the price of a product and the quantity supplied are related negatively c. At any price above the equilibrium price, there will be excess supply At any price below the equilibrium price there will be excess demand
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