In a competitive market, if the current price is below the equilibrium price, then Group of answer choices a) there is a shortage. b) there is a tendency for the price to decrease from its current level. c) none of the other options. d) there is a surplus. e) there is no tendency for the price to change if from its current level.

In a competitive market, if the current price is below the equilibrium price, then Group of answer choices a) there is a shortage. b) there is a tendency for the price to decrease from its current level. c) none of the other options. d) there is a surplus. e) there is no tendency for the price to change if from its current level.

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section: Chapter Questions

Problem 23QP

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