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The equilibrium price of mangoes is N1.00. If the price fall to 50k, there will...

Economics
WAEC 1998
The equilibrium price of mangoes is N1.00. If the price fall to 50k, there will be
  • A. an excess demand
  • B. an excess supply
  • C. a surplus in the market
  • D. many sellers in the market
  • E. no seller in the market
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Correct Answer: Option A
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