State whether the following statement is true or false. Explain your answer.
When the equilibrium price of a good is less than its market price, there will be competition among sellers.
(a) Only equilibrium price will fall
(b) Only equilibrium quantity will fall
(c) Only equilibrium price will rise
(d) Equilibrium price will fall and equilibrium quantity will rise
market force. Also explain the series of changes that will occur in the market.
(b) Explain black marketing as a direct consequence of price ceiling.
True / False
Experts pls give me the reason also
State whether the following statement is true or false. Explain your answer.
When the equilibrium price of a good is less than its market price, there will be competition among sellers.
ii. Why is such a setup necessary?
iii. Why is the larynx called the sound box?
(Choose the correct alternative)
(a) equal to unity
(b) greater than unity
(c) less than unity
(d) zero