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

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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