True or False (Why): If the price charged is less than the equilibrium price, a shortage will occur. When both supply and demand increase for a certain good, what would happen to the equilibrium price and quantity of the good?
True or False (Why): If the price charged is less than the equilibrium price, a shortage will occur. When both supply and demand increase for a certain good, what would happen to the equilibrium price and quantity of the good?
Chapter4: Markets In Action
Section: Chapter Questions
Problem 6SQ
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- True or False (Why): If the price charged is less than the
equilibrium price , a shortage will occur. - When both supply and demand increase for a certain good, what would happen to the equilibrium price and quantity of the good?
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