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If, at the prevailing price, more of a good is desired than is available for sale:

A. The price is below equilibrium

B. The price is at equilibrium

C. The price must fall

D. We cannot tell anything about the price

Correct Answer : A.


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  15. In monopolistic competition, the customers are attached with one product because of:
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  17. Consumers are likely to get a variety of similar goods under:
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