If the price is below the equilibrium level, then the quantity demanded will exceed the quantity supplied. This is known as ___________________ Group of answer choices

Question

asked Dec 12, 2021 133k views

2 Answers

Phschoen · Answer 1 · 2021-12-16T21:09:39+0000

Answer:

Shortage

Step-by-step explanation:

At equilibrium, the quantity demanded equals the quantity supplied.

When the quantity demanded will exceed the quantity supplied, there is a shortage.

when the quantity supplied exceeds the quantity demanded, there is a surplus.