True or False If the actual price in this market were below

True or False: If the actual price in this market were below the equilibrium price, suppliers could raise the price without losing sales.

Solution

True

Equilibrium price is the price where supply equal demand . So for example say $10 is the equilibrium price, and now the actual price is around $6 that means below the equilibrium level , so the demand will exceed the supply for the product , so the suppliers could raise the price without losing sales.