If the actual price in this market were above the equilibrium price, quantity supplied would be than quantity demanded, so there would be pressure on prices.

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Question:

If the actual price in this market were above the equilibrium price, quantity supplied would be than quantity demanded, so there would be pressure on prices.

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true or false: if the actual price in this market were below the equilibrium price, suppliers could raise the price without losing sales.

 true
 false

Answer:

Answer: Greater, fall, True

Explanation:

If the actual price in this market were above the equilibrium price, quantity supplied would be greater than quantity demanded, so there would be surplus in the market. Sellers will not be able to sell all they want and their will be a pressure on prices to fall.  

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If the actual price in this market were below the equilibrium price, the quantity demanded is greater than supply. Consumers are not getting all they want and thus, the suppliers could raise the price without losing sales.  Thus, the statement is true.

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