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The government
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3. Suppose there are buyers and sellers in a market but no exchange takes
place. Assume there is no government intervention in this market. This
implies that:
The price must be so high that no one can afford this good
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5. A ballet performance had many empty seats. This implies that the:
Hall where the performance was being held was very large
Price of the tickets must have been very low because of the low demand
Price of the tickets must have been above the equilibrium price
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The amount by which the quantity demanded exceeds the quantity supplied at a given price
A situation in which people cannot buy all of the goods they are willing and able to buy at t
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7. Tickets for a rock concert were sold out several weeks before the
performance. This implies that the:
Stadium where the concert was being held was very small
Price of the tickets must have been very high because of the high demand
Price of the tickets must have been below the equilibrium price
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