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Subject - Economics:

Microeconomics

MCQ - 9-4019

Question:

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Assuming no government involvement in this market, if the current price were at the level of 0A, we would expect

  1. a surplus in the market to be eliminated by rising prices.
  2. a shortage in the market to be eliminated by falling prices.
  3. a surplus in the market to be eliminated by falling prices.
  4. a shortage in the market to be eliminated by falling prices.
  5. a decrease in quantity supplied and an increase in quantity demanded as the price rises.

Correct Answer: D

Explanation:

Prices below equilibrium create shortages, but they do not last.

Record Performance

269 MCQ for effective preparation of the test of Microeconomics of Economics section.

Read the MCQ statement: Assuming no government involvement in this market, if the current price were at the level of 0A, we would expect , keenly and apply the method you have learn through the video lessons for Microeconomics to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 9-4019.

How to Answer

Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

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