if the price of a good is above equilibrium price then a there is a surplus and the price will r

Name: if the price of a good is above equilibrium price then a there is a surplus and the price will rise there is a surplus and the price will fall there is shortage and the price will fall d th 93815
Uploaded: 2021-12-29T01:53:24-08:00
Duration: 1 min 8 s
Channel: Prashant Bana
Description: if the price of a good is above equilibrium price then a there is a surplus and the price will rise there is a surplus and the price will fall there is shortage and the price will fall d th 93815

Question

William F · Accepted Answer

If the price of a good is above the equilibrium price, it means that the current price is higher

Question

'If the price of a good is above equilibrium price then; (a) There is a surplus and the price will rise_ There is a surplus and the price will fall There is shortage and the price will fall (d) The quantity demanded is equal to the quantity supplied and the price remains unchanged'

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