Welcome to Westonci.ca, the Q&A platform where your questions are met with detailed answers from experienced experts. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.
Sagot :
When quantity supplied exceeds quantity demanded, a shortage exists.
What happens when quantity supplied exceeds quantity demanded?
- If more people want a good or service than can be supplied at the going rate, there is a shortage, which pushes prices up.
- With everything else remaining the same, an increase in demand will result in a rise in the equilibrium price and an increase in supply.
- The only price at which the quantity provided and the amount demanded are equal is at the equilibrium.
- Quantity supplied exceeds quantity sought at a price above equilibrium, such as 1.8 dollars, leading to an excess supply.
- When the quantity given and demanded are equal, an equilibrium is reached. The amount demanded will exceed the quantity provided if the price is below the equilibrium level. A shortage or an excess of demand will exist.
To learn more about Quantity supplies and demands refer to:
https://brainly.com/question/12538447
#SPJ4
Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.
