Suppose that the equilibrium price in the market is 10 if, Ask an Expert

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Suppose that the equilibrium price in the market is $10. If the current market price is $7.50:

A. the equilibrium price will fall to $7.50.

B. competition among buyers will increase the current price.

C. the current price will fall below $7.50 as sellers compete for market share.

D. There is not enough information provided to answer the question.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91275310

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