Online Learning
CLICK HERE TO ORDER YOUR ASSIGNMENT

From a buyer’s point of view if the seller of a good charges a price which exceeds the competitive equilibrium

Question

From a buyer’s point of view, if the seller of a good charges a price which exceeds the competitive equilibrium

level in the short run, then: which is correct?

1) the seller will not be able to sell anything.

2) the buyer will perceive an inelastic supply curve.

3) the seller will earn zero economic profit.

4) the amount of the good purchased from the seller will be less.

Economics

From a buyer’s point of view if the seller of a good charges a price which exceeds the competitive equilibrium