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Author Question: When the market price of a product is below the equilibrium price, shortages will result and sellers ... (Read 158 times)

pragya sharda

  • Hero Member
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  • Posts: 566
on: Jun 30, 2018
When the market price of a product is below the equilibrium price, shortages will result and sellers can be expected to reduce the supply of that product.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

An equilibrium price is unaffected by nonprice factors.
 a. True
  b. False
  Indicate whether the statement is true or false


Tonny

  • Sr. Member
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  • Posts: 341
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

False


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