Suppose that in the market for computer memory chips, the equilibrium price is $50 per chip. If
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Suppose that in the market for computer memory chips, the equilibrium price is $50 per chip. If the current price is $55 per chip, then there will be ______________ of memory chips.
a. A shortage.
b. A surplus.
c. An equilibrium quantity.
d. None of the above.
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A surplus At the equilibrium price of 50 per chip the quantity d...View the full answer
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Related Book For 
Microeconomics Principles, Problems and Policies
ISBN: 978-1259450242
20th edition
Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn
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