Suppose roses are currently selling for $40 per dozen, but the equilibrium price of roses is $30 per dozen. We would expect a_______.
A: shortage to exist and the market price of roses to increase.
B: shortage to exist and the market price of roses to decrease.
C: surplus to exist and the market price of roses to increase.
D: surplus to exist and the market price of roses to decrease.
A: shortage to exist and the market price of roses to increase.
B: shortage to exist and the market price of roses to decrease.
C: surplus to exist and the market price of roses to increase.
D: surplus to exist and the market price of roses to decrease.
举一反三
- If the market price of a good is above the equilibrium price ______ A: a surplus will exist, which will put downward pressure on the prices. B: the supply curve will shift to the right as firms rush to take advantage of the high price. C: the demand curve will shift to the left as consumers decrease the quantity they buy. D: the government will intervene to force the price downward. E: a shortage will exist, which will force the price even higher.
- An increase in market supply and an increase in market demand will result in A: A decrease in equilibrium price and an increase in equilibrium quantity B: A decrease in equilibrium price - the change in equilibrium quantity is indeterminate C: An increase in equilibrium quantity and the change in price is unclear D: all of above
- If the actual price were below the equilibrium price in the market for bread, a: A: surplus would develop that cannot be eliminated over time. B: shortage would develop, which market forces would eliminate over time. C: surplus would develop, which market forces would eliminate over time. D: shortage would develop, which market forces would tend to exacerbate.
- Which of the following would cause price to decrease? A: a decrease in supply B: an increase in demand C: a surplus of the good D: a shortage of the good
- Suppose that the current price in a market for Pizza is $9. At that price, the quantity demanded is 519 and the quantity supplied is 400. In this market, we would expect that: