The equilibrium price of mangoes is N1.00. If the price fall to 50k, there will…

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Economics WAEC 1998

The equilibrium price of mangoes is N1.00. If the price fall to 50k, there will be

  • an excess demand checkmark
  • an excess supply
  • a surplus in the market
  • many sellers in the market
  • no seller in the market

The correct answer is: A

Explanation

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