I would choose A. But that's a recommended answer from my teacher<span />
To help you not make that mistake again by giving you the help you need
Answer:
The correct answer is option C.
Explanation:
At the current market price of $4, the quantity demanded is 20 units.
Last year at the same price the quantity demanded was 30 units.
This means that the price remains constant, the quantity has declined from last year. This indicates that the demand has declined over the year shifting the demand curve to the left.
The correct answer is true.
Answer:
Excess supply
Explanation:
Equilibrium price is the price where the demand curve equals the supply curve.
When price is above the equilibrium price, quantity supplied increases.
According to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.
If price is below the equilibrium price, there would be excess demand.
I hope my answer helps you
