Price pf shows equilibrium and price p* shows excess demand?
Answer & explanation
Correct answer: option 2
The correct answer is option 2: False
It is actually reverse. Price pf shows situation of excess supply and equilibrium exists at price p*.
Price pf shows equilibrium and price p* shows excess demand?
Correct answer: option 2
The correct answer is option 2: False
It is actually reverse. Price pf shows situation of excess supply and equilibrium exists at price p*.