Which of the following statements is correct? A. If there is a surplus, prices will fall B. A surplus is evident when the quantity supplied is less than the quantity demanded C. A shortage is evident when the quantity demanded is less than the quantity supplied D. If there is a shortage, prices will fall

Which of the following statements is correct? A. If there is a surplus, prices will fall B. A surplus is evident when the quantity supplied is less than the quantity demanded C. A shortage is evident when the quantity demanded is less than the quantity supplied D. If there is a shortage, prices will fall

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 8QR

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