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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:
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