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Fill in with the correct letters: When considering a Supply and demand curve, what happens in...

Fill in with the correct letters:

When considering a Supply and demand curve, what happens in the following scenarios?  

  1. When supply is greater than demand, prices will _____
  2. When demand is greater than supply, prices will _____
  3. When supply and demand are equal, prices will ______
  4. Supply and demand equilibrium will cause prices to _____
  1. Depend on whether this is a monopoly
  2. Increase
  3. Decrease
  4. Remain the same
  5. Depend on if this is a command economy
  6. Not known with the data given
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Answer #1

1When supply is greater than demand,price will fall.

Answer-C

2.When demand is greater than supply,price will rise.

Answer-B

3.When demand and supply are equal,price will remain in equilibrium.

Answer-D

4.Answer-D

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