Suppose the market for hamburgers is unregulated that is, Ask an Expert

Economics

Suppose the market for hamburgers is unregulated. That is, hamburger prices are free to adjust based on the forces of supply and demand. If a surplus exists in the hamburger market, then the current price must be ________(higher or lower?) than the equilibrium price. For the market to reach equilibrium, you would expect _________(sellers to offer lower prices, or buyers to offer higher prices, or persistent excess supply?)

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91520701

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