객관식
In the context of market equilibrium, all retailers strive for supply to be _______ to demand.
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3. The Market Forces of Supply and Demand
Market Equilibrium
객관식
Which one of the following would NOT occur if the market price was above the market-clearing price?
A
A shortage of the good
B
Quantity supplied exceeds quantity demanded
C
Sellers may lower their prices to increase sales
D
A surplus of the good
검증된 단계별 안내1
Step 1: Understand the concept of market-clearing price, which is the price at which quantity demanded equals quantity supplied, resulting in market equilibrium.
Step 2: Recognize that if the market price is set above the market-clearing price, the quantity supplied will be greater than the quantity demanded, leading to a surplus of the good.
Step 3: Analyze the consequences of a surplus: sellers have excess inventory and may respond by lowering prices to stimulate demand and reduce the surplus.
Step 4: Contrast this with a shortage, which occurs when the price is below the market-clearing price, causing quantity demanded to exceed quantity supplied.
Step 5: Conclude that a shortage would NOT occur if the price is above the market-clearing price, because the higher price discourages demand and encourages supply, creating a surplus instead.
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