Question: 1. True or False (Why): If the price charged is less than the equilibrium price, a shortage will occur. 2. When both supply and demand

1. True or False (Why): If the price charged is

1. True or False (Why): If the price charged is less than the equilibrium price, a shortage will occur. 2. When both supply and demand increase for a certain good, what would happen to the equilibrium price and quantity of the good

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