Diagram shows excess supply at price _______ and equilibrium at price_______.
Answer & explanation
Correct answer: option 2
The correct answer is option 2: pf, p*
Excess supply exists at price pf and equilibrium at price p*.
Diagram shows excess supply at price _______ and equilibrium at price_______.
Correct answer: option 2
The correct answer is option 2: pf, p*
Excess supply exists at price pf and equilibrium at price p*.