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The market clearing price is also known as:
there is an increase in supply
the quantity of the good will also increase
there is a new equilibrium price
the intersection of the supply and demand curves
above the equilibrium price
supply
below the equilibrium price
the equilibrium price
The equilibrium price occurs at:
there is an increase in supply
the quantity of the good will also increase
there is a new equilibrium price
the intersection of the supply and demand curves
above the equilibrium price
supply
below the equilibrium price
the equilibrium price
The price floor is the minimum price:
there is an increase in supply
the quantity of the good will also increase
there is a new equilibrium price
the intersection of the supply and demand curves
above the equilibrium price
supply
below the equilibrium price
the equilibrium price
Each time the supply or demand curve shifts:
there is an increase in supply
the quantity of the good will also increase
there is a new equilibrium price
the intersection of the supply and demand curves
above the equilibrium price
supply
below the equilibrium price
the equilibrium price
The quantity a seller is willing and able to sell at each price... is called:
there is an increase in supply
the quantity of the good will also increase
there is a new equilibrium price
the intersection of the supply and demand curves
above the equilibrium price
supply
below the equilibrium price
the equilibrium price
As the supply curve shifts to the right:
there is an increase in supply
the quantity of the good will also increase
there is a new equilibrium price
the intersection of the supply and demand curves
above the equilibrium price
supply
below the equilibrium price
the equilibrium price
The price ceiling is the maximum price:
there is an increase in supply
the quantity of the good will also increase
there is a new equilibrium price
the intersection of the supply and demand curves
above the equilibrium price
supply
below the equilibrium price
the equilibrium price
Due to the law of supply, as the price of a good increases:
there is an increase in supply
the quantity of the good will also increase
there is a new equilibrium price
the intersection of the supply and demand curves
above the equilibrium price
supply
below the equilibrium price
the equilibrium price
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