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Author Question: If the quantity demanded for a product exceeds the quantity supplied, the market price will rise ... (Read 121 times)

ts19998

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on: Jun 29, 2018
If the quantity demanded for a product exceeds the quantity supplied, the market price will rise until
 
  A) the quantity demanded equals the quantity supplied. The product will then no longer be scarce.
  B) quantity demanded equals quantity supplied. The market price will then equal the equilibrium price.
  C) only wealthy consumers will be able to afford the product.
  D) quantity demanded equals quantity supplied. The equilibrium price will then be greater than the market price.

Question 2

The distribution of income should be determined by the government is an example of a normative economic statement.
 
  Indicate whether the statement is true or false


lindahyatt42

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

TRUE


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ts19998

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Reply #2 on: Jun 29, 2018
Thank you :)


lindahyatt42

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Reply #3 on: Jun 29, 2018
Happy to help you


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