In competitive markets, a surplus or shortage will cause:

a) changes in the quantities demanded and supplied that tend toeliminate the surplus or shortage.

b) cause changes in the quantities demanded and supplied thattend to intensify the surplus or shortage

c) never exist because the markets are always atequilibrium.

d) cause shifts in the demand and supply curves that tend toeliminate the surplus or shortage.

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Answer Option a changes in the quantities demanded and supplied that tend to elimin... View the full answer