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3. The Market Forces of Supply and Demand
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Problem 15
3. The Market Forces of Supply and Demand
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3. The Market Forces of Supply and Demand / Effects of Shortage / Problem 15
Problem 15
What causes the discrepancy between quantity supplied and quantity demanded when a price is set below equilibrium?
A
The price is too low, leading to higher demand and lower supply.
B
There is no discrepancy; they are equal.
C
The market is in equilibrium.
D
The price is too high, leading to lower demand and higher supply.
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