Author Question: The price of a good will fall when: a. there is a shortage of the good. b. there is a surplus of ... (Read 47 times)

Tirant22 · **on:** Jun 30, 2018

The price of a good will fall when:
a. there is a shortage of the good. b. there is a surplus of the good.
c. demand for the good increases. d. the supply of the good decreases.

Question 2

When there is a surplus of a product in a market the:
a. price will rise.
b. price must be above the equilibrium price.
c. producers will expand output and sales will rise.
d. price must be below the equilibrium price.