3. What market condition exists when quantity demanded is greater than quantity supplied? Storage 4. What happens to price when the market condition in question 3 exists?

Question

asked Dec 5, 2020 132k views

1 Answer

Dcarson · Answer 1 · 2020-12-10T19:51:59+0000

Answer:

3. excess demand 4. increases

Step-by-step explanation:

shortage or excess demand increases prices until demand at that price matches the available supply establishing market equilibrium