Practicing Success
Practicing Success
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| Suppose that equilibrium price is denoted by p*. At any price greater than p*, there will be ________, and at any price lower than p*, there will be __________ |
Excess supply, excess demand Excess demand, excess supply No excess supply, no excess demand Normal demand, normal supply |
| Excess demand, excess supply |
| At any price greater than p*, there will be excess supply, and at any price lower than p*, there will be excess demand. |
