Above the equilibrium point, a further rise in price tends to

a

increase demand and restrict supply

b

restrict demand and decrease supply

c

increase demand and decrease supply

d

decrease demand and increase supply

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Correct Option
c

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Discussions (3)

KlassiQal
9 years ago

God bless u bro,the right answer is b. Pls try and b getting ur answers rite. @ Myschool

KlassiQal
9 years ago

God bless u bro,the right answer is C. Pls try and b getting ur answers rite. @ Myschool

Chuks612
9 years ago

This can't B cuz as the price moves from 30 to 40, quantity demanded tend to increase from 250 units to 350 units while quantity supplied decreased from 250 to 150. Which makes the right answer C, cuz demand increased and supply decreased.

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