Which of the following statements regarding the determination of equilibrium price are correct? (A) When the demand curve shifts to the right, the equilibrium price increases, assuming supply remains constant. (B) A surplus occurs when the price is above the equilibrium price, leading to excess supply. (C) A price floor above the equilibrium price leads to a shortage of goods in the market. (D) A price ceiling below the equilibrium price results in a shortage of goods in the market.
1
1. (A), (B), (D)
2
2. (B), (C), (D)
3
3. (A), (B), (C)
4
4. (A), (C), (D)