MACROECONOMICS W/CONNECT (LL)
MACROECONOMICS W/CONNECT (LL)
20th Edition
ISBN: 9781260046137
Author: McConnell
Publisher: MCGRAW-HILL CUSTOM PUBLISHING
Question
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Chapter 3, Problem 5RQ
To determine

Shortage and surplus.

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Students have asked these similar questions
Suppose that in the market for computer memory chips, the equilibrium price is $50 per chip. If the current price is $55 per chip, then there will be ______________ of memory chips. a. A shortage.b. A surplus.c. An equilibrium quantity.d. None of the above.
In a market, the quantity demanded and quantity supplied are equal. Such market is said to be in ______________
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