(solution) Market Equilibrium Determine whether each of the following statements is true, false, or…

(solution) Market Equilibrium Determine whether each of the following statements is true, false, or…

Market Equilibrium Determine whether each of the following statements is true, false, or uncertain. Then briefly explain each answer. a. In equilibrium, all sellers can find buyers. b. In equilibrium, there is no pressure on the market to produce or consume more than is being sold. c. At prices above equilibrium, the quantity exchanged exceeds the quantity demanded. d. At prices below equilibrium, the quantity exchanged is equal to the quantity supplied.