Suppose that a market is characterized as follows: at the current price, consumers are willing and able to purchase 100 units and sellers are willing and able to sell 70 units. Which of the following statements are true?
The price in the market will decrease.
The market is in equilibrium.
The price in the market will increase.
Quantity demanded will increase.
Suppose that a market is characterized as follows: at the current price, consumers are willing and able to purchase 100 units and sellers are willing and able to sell 70 units. Which of the following statements are true?
The price in the market will decrease.
The market is in equilibrium.
The price in the market will increase.
Quantity demanded will increase.