Social Studies
Social Studies, 27.08.2019 08:20, ashleyk1838

Suppose a producer charges $20 for a new toy. at this price, the producer supplies more toys than people demand, so there is a(n) the producer decides to lower the price to $15. at this new price, quantity supplied equals quantity demanded. so, $15 is the
excess supply, equilibrium price
excess demand, price ceiling
shortage, price floor

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