If the price of a good is initially below the equilibrium level excess demand exists. the supply curve will shift rightward. the supply curve will shift leftward.
If the price of a good is initially below the equilibrium level excess demand exists. the supply curve will shift rightward. the supply curve will shift leftward.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter4: Markets In Action
Section: Chapter Questions
Problem 5SQP
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Question
If the price of a good is initially below the equilibrium level
excess demand exists.
the supply curve will shift rightward.
the supply curve will shift leftward.
firms supply none of the good.
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