When the market price is lower than the equilibrium price, the result is excess ____.When the market price is higher than the equilibrium price, the result is excess _____. Question 1Answer a. Supply; demand b. Demand; demand c. Demand; supply d. Supply; supply
When the market price is lower than the equilibrium price, the result is excess ____.When the market price is higher than the equilibrium price, the result is excess _____. Question 1Answer a. Supply; demand b. Demand; demand c. Demand; supply d. Supply; supply
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter3: Supply And Demand: Theory
Section: Chapter Questions
Problem 23QP
Related questions
Question
When the market price is lower than the equilibrium price , the result is excess ____.
When the market price is higher than the equilibrium price, the result is excess _____.
When the market price is higher than the equilibrium price, the result is excess _____.
Question 1Answer
a.
Supply; demand
b.
Demand; demand
c.
Demand; supply
d.
Supply; supply
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