MENU
If the price of a good is held above the equilibrium price, the result will be
Suggested Answer: D
Get Premium CIMAPRA17-BA1-1 Questions
as Interactive Web-Based Practice Test or PDF
Real Exam Format
Detailed Explanations
Instant Access
Get Your Practice Test
39 comments · newest first
SU
Sunshine
11 months ago
Just to clarify, it’s B - a surplus happens when prices are too high!
ZO
Zoila
11 months ago
I thought higher prices meant more demand, not surplus?
SA
Santos
11 months ago
Wait, how does that even work?
SH
Sharen
12 months ago
I agree, B is the right answer!
NA
Nan
12 months ago
Definitely a surplus in the market.
GR
Graciela
1 year ago
I vaguely recall something about how prices above equilibrium can cause issues in the market, but I can't remember the exact details.
CH
Chauncey
1 year ago
I practiced a similar question where a price above equilibrium definitely resulted in a surplus. So, I’m leaning towards option B.
TH
Thurman
1 year ago
I'm not entirely sure, but I feel like a higher price might create excess demand instead. I need to double-check that concept.
NI
Nicolette
1 year ago
I think if the price is above equilibrium, it leads to a surplus, right? I remember something about supply exceeding demand in that case.
CY
Cyril
1 year ago
I'm a little confused on this one. Is it saying the price is held above the equilibrium, or that the price is the equilibrium price? I want to make sure I understand the question properly.
VA
Valentine
1 year ago
I'm confident the answer is A - a shortage in the market. That's what happens when the price is artificially set above the equilibrium level.
EL
Elfriede
1 year ago
Okay, I remember learning about this in class. The key is that when the price is above the equilibrium, quantity demanded will be less than quantity supplied, leading to a surplus.
RA
Ramonita
1 year ago
This one seems pretty straightforward. If the price is held above the equilibrium price, there will be a shortage in the market.
JE
Jesusita
1 year ago
Hmm, I'm not totally sure about this one. I'll have to think it through carefully before answering.
MA
Markus
1 year ago
I'm a little confused by this question. There are a few different methods mentioned, and I'm not sure which one would be the most appropriate for this scenario. I'll need to carefully consider the details and review my course materials to make the best choice.
HE
Helene
1 year ago
I'm a bit confused on this one. I know quality is important in agile, but I'm not sure if it's just the team or if other stakeholders are involved too. I'll have to think about this one.
HA
Haley
1 year ago
No problem, I've got this. Expanding the binomial and then combining like terms is a straightforward process. And evaluating the natural log of e^3x is just 3x. I'll have the simplified expression in no time.
MA
Marcelle
1 year ago
Price ceiling, huh? Sounds like someone's trying to control the free market. All I know is, if the price is too high, I'm not buying! Time to start a black market for this good.
AH
Ahmed
1 year ago
Looks like we might have to find another way to get what we need.
DY
Dyan
1 year ago
Yeah, that's right. It means there won't be enough of the good to go around.
LA
Lavonda
1 year ago
I heard if the price is above equilibrium, there will be a shortage.
JA
Jaime
2 years ago
Ooh, a trick question! If the price is fixed above the equilibrium, the demand will drop, so D - an increase in the demand for the good. Wait, what? I think I need to brush up on my Econ 101.
LE
Leota
1 year ago
Oh, I see now. It's not D) an increase in the demand for the good.
TA
Tabetha
1 year ago
Actually, it's C) excess demand for the good.
JA
Jamika
1 year ago
No, I believe it's B) a surplus in the market.
BE
Bettina
1 year ago
I think the answer is A) a shortage in the market.
NI
Nichelle
2 years ago
I disagree, I think the answer is B) a surplus in the market. When the price is too high, producers will produce more than consumers want to buy.
DE
Denise
2 years ago
I agree with King, because if the price is above equilibrium, there will be more demand than supply.
LE
Lelia
2 years ago
Oh, I know this one! If the price is artificially high, the market will have more buyers than sellers. B - a surplus in the market. Capitalism at its finest!
AD
Adelina
1 year ago
B) a surplus in the market
TE
Tenesha
1 year ago
A) a shortage in the market
FE
Felicia
1 year ago
B) a surplus in the market
DE
Deangelo
1 year ago
A) a shortage in the market
LE
Lemuel
2 years ago
Hmm, let's see. If the price is held above the equilibrium, the demand will exceed the supply. That's gotta be C - excess demand. Textbook stuff, really.
CH
Chuck
1 year ago
C) excess demand for the good
JI
Jin
1 year ago
B) a surplus in the market
PA
Paris
2 years ago
A) a shortage in the market
MA
Mary
2 years ago
Ah, the old price ceiling dilemma! I remember this one from my Econ 101 days. Obviously, the answer is A - a shortage in the market. Classic supply and demand, folks.
KI
King
2 years ago
I think the answer is A) a shortage in the market.