Answered

Explore Westonci.ca, the premier Q&A site that helps you find precise answers to your questions, no matter the topic. Explore a wealth of knowledge from professionals across various disciplines on our comprehensive Q&A platform. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

What happens when the quantity of a good supplied at a given price is greater than the quantity demanded?

A. Excess supply
B. Stable prices
C. Exact equilibrium
D. Increased production

Sagot :

GinnyAnswer

Final answer:

Excess supply (or surplus) happens when the quantity supplied exceeds the quantity demanded, resulting in a decrease in price until equilibrium is reached.


Explanation:

Excess supply, also known as a surplus, occurs when the quantity supplied of a good is greater than the quantity demanded at the current price. This situation leads to a decrease in price until equilibrium is reached. Stable prices are not characteristic of a scenario where excess supply exists. Increased production may be a result of the surplus being eliminated to restore equilibrium.


Learn more about Supply and demand dynamics here:

https://brainly.com/question/28153216


We appreciate your time on our site. Don't hesitate to return whenever you have more questions or need further clarification. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.