If the price of a good is above the equilibrium price ? – McqOptions

MCQOPTIONS

1.	If the price of a good is above the equilibrium price ?
A.	there is a surplus and the price will rise
B.	there is a shortage and the price will fall
C.	there is a shortage and the price will rise
D.	The quantity demanded is equal to the quantity supplied and the price remains unchanged
E.	there is a surplus and the price will fall
Answer» F.

Discussion

No Comment Found

Related MCQs

Which of the following statements is true about the impact of an increase in the price of lettuce ?
With a positive externality ?
With free trade, suppose that the rest of the world can supply calculators to Canada at a price of $30. Canada’s imports would now equal _____ and its consumer surplus would ____ relative to what occurred in the absence of trade. What is the change in consumer surplus? Refer to the figure that you have plotted ?
With free trade suppose that the rest of the world can supply computers to Norway at a price of $1,500 Norway’s imports will now equal. Compared to What occurred in the absence of trade, Norway’s consumers surplus will _____ and its producer surplus will ____. Can you calculate these amounts? Try plotting the information of this table on a sheet of graph paper ?
Which of the following shifts the demand for watches to the right ?
Which of the following is the government most likely to subsidies ?
Which company in the United States would likely be most concerned about Brazil’s dumping of steel in the U.S market ?
Which best describes consumer surplus ?
Where a tax can be shifted, the incidence depends on ?
When supply increase in an agricultural market farmer’s earning might fall because ?