If the market price is above the equilibrium price:

a. A surplus will occur and producers will produce less and lower prices
b. Producers will make extremely high profits
c. A surplus will result and consumers will bid prices up
d. A shortage will occur and producers will produce more and lower prices


a. A surplus will occur and producers will produce less and lower prices

Economics

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A) 1,600 B) 106,000 C) 40,000 D) 20,000

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a. True b. False Indicate whether the statement is true or false

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Which of the following will shift an economy's production possibilities curve inward?

A. an improvement in technology B. an increase in the unemployment rate C. a decrease in land, labor or capital D. a decrease in the unemployment rate

Economics