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Author Question: A surplus means that the quantity supplied is greater than the quantity demanded at the prevailing ... (Read 62 times)

nautica902

  • Hero Member
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  • Posts: 591
on: Jun 30, 2018
A surplus means that the quantity supplied is greater than the quantity demanded at the prevailing price.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Suppose the market price of a good X is below the equilibrium price. The result is a shortage and sellers can be expected to decrease the quantity of that good X supplied.
 a. True
  b. False
  Indicate whether the statement is true or false


ktidd

  • Sr. Member
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  • Posts: 319
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

False


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