if in the graph, it is assumed that the price is initially P1, it can...
ECONOMICS
JAMB 1992
if in the graph, it is assumed that the price is initially P1, it can be deduced that price will
- A. fall because there is a surplus
- B. remain constant because it is the equilibrium price
- C. rise because there is a shortage
- D. double
Correct Answer: A. fall because there is a surplus
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