Which of the following will hold true if the market for cameras is in
Which of the following will hold true if the market for cameras is in equilibrium at a price of $40?
A) The quantity of cameras produced will equal the quantity of cameras bought in the market.
B) Sellers of cameras will have an incentive to charge a price higher than $40.
C) Buyers of cameras will want to buy fewer cameras than they are purchasing at equilibrium.
D) If the cost of producing cameras falls below $40 per camera, all sellers will stop supplying cameras.
ANSWER
A
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