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

Explanation

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

Correct Answer: Option A

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